US melamine Q2 prices dip 2% from Q1

25 April 2012 20:45  [Source: ICIS news]

HOUSTON (ICIS)--Second-quarter US contract prices for melamine were assessed 2% lower from the first quarter on Wednesday by ICIS pricing.

Settled contracts for second-quarter melamine were represented by a scattering of rollovers and adjustments to contracts late in the first quarter, sources said.

As a result, ICIS assessed second quarter bulk melamine contract prices down 1.5 cents/lb to a range of 84.50-97.50 cents/lb ($1,863-2,149/tonne, €1,416-1,633/tonne) delivered, down from 86-99 cents/lb in the first quarter.

Faced with rapidly increasing prices for feedstock ammonia and urea, suppliers projected that increasing demand for stable melamine supplies will move prices higher in the third quarter.

"Demand is not seen improving enough at this point, however, to move the price up in the third quarter, although we have likely hit the price bottom for now," a buyer said.

($1 = €0.76)

By: Frank Zaworski
+1 713 525 2653

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