April 21st — On April 21, Sichuan Meifeng's ex-factory quotation for melamine was 6,700 yuan per ton, a decrease of 1,500 yuan per ton compared to the previous quotation date. The plant has a capacity of 50,000 tons and is currently shut down. Chempricehub's analysis of melamine indicates a bearish score of -2. Sichuan Meifeng's ex-factory quotation for melamine dropped by 1,500 yuan per ton to 6,700 yuan per ton from the previous quotation date, a decline of 18.3%. This suggests an imbalance between supply and demand in the spot market, with weak demand or high inventories leading to a significant price drop. Although the plant shutdown reduces future supply, the sharp decline in the current quotation is a strong bearish signal, representing a significant negative event. Based on industry experience, such a sharp price drop may trigger panic selling in the market, putting significant pressure on spot prices in the short term. It is advisable to monitor the recovery of downstream demand.