26 March 2014 22:34 [Source: ICIS news]
HOUSTON (ICIS)--Q2 2014 US melamine contract prices were assessed sharply lower on Wednesday, as market participants said that supply is ample.
The ICIS-assessed range for the second quarter is 70-82 cents/lb ($1,543-1,808/tonne), down by 10 cents on the lower end and 11 cents on the upper end.
Lower-cost melamine imports from a number of Chinese suppliers put downward pressure on prices.
Additionally, buyers feel that the market is amply supplied and that even as demand increases in the second quarter, material will be available.
Market participants did not see a major impetus from producers to increase their prices at this time.
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