15 January 2014 23:19 [Source: ICIS news]
HOUSTON (ICIS) -- Prices for the Q1 2014 US melamine contract have settled, sources said on Wednesday, with no major price increases from the previous quarter. Supply has not been an issue and many contracts rolled over. ?xml:namespace>
The ICIS-assessed range for the quarter is 80-93 cents/lb. The lower end of the price range was down by 3 cents, reflecting lower-cost melamine imports from China. Buyers have heard a lot of offers from Chinese suppliers in recent weeks, and imported melamine from China and Europe, combined with production from the Americas, has kept the market fully supplied.
The most recent data from the International Trade Commission shows 2,045 tonnes of Chinese melamine being imported into the US in November 2013, along with 1,241 tonnes of melamine from the Netherlands.
Melamine demand has been solid as the quarter begins, with one market participant expecting the year’s first quarter to be better than the first quarter of 2013, followed by increasing demand in the second quarter from the housing and automotive industries.
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