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SunSirs: Energy, the Market of DME Rebounded with the Increase of Domestic Demand (April 6-10)

April 15 2020 09:58:02     SunSirs (Selena)

Last week, the domestic DME (Henan) market ushered in a long-standing rise. At the beginning of the week, the average price of domestic DME (Henan) market was 2,590.00 RMB/ ton, and at the end of the week, the average price was 2,706.67 RMB/ ton, up 4.5% in the week, 22.30% lower than the same period last year.

Market Analysis

Last Tuesday, the market atmosphere of DME (Henan) improved. As of April 10, Hebei Yutai, Shanxi orchid, Dezhou shengdeyuan and other devices had been shut down for maintenance; Henan Yima Xinyuan DME device failed, no quotation was offered temporarily. The ex-factory price of Henan Qinyang Shengxin DME was 2,700 RMB/ ton, that of Henan Xinlianxin Chemical Industry Group Co., Ltd. was 2,670 RMB/ ton, that of Hebei Jichun Chemical Co., Ltd. was 2,700 RMB/ ton, that of Henan lankaohuitong was 2,750 RMB/ ton, and that of Shandong Yuhuang was 2,650 RMB/ ton.

Last Tuesday, the market rebounded upward, and the market operating rate slightly increased from the previous week, about 10%. At the beginning of the week, the rise of international crude oil for two consecutive days brought a boost to the gas market, the rise of LPG generally, and the rebound of cost methanol, which led to the rise of dimethyl ether. Henan xinlianxin rose 20 RMB/ ton every day for four consecutive days. At present, in the civil market of LPG, many terminals have recovered, demand has increased, downstream procurement is more active, and market entry has improved. The price of DME remained stable at the end of last week, and there are still some restrictions on demand, which is of limited benefit to the market.

Industry: according to the price monitoring of SunSirs, in the 14th week of 2020 (4.6-4.10), there were 6 commodities in the list of commodity price rise and fall in the energy sector, including 2 commodities with a rise of more than 5%, accounting for 12.5% of the number of commodities monitored in the sector; the top 3 commodities were methanol (6.32%), Brent crude oil (5.14%) and DME (4.50%). There were 10 kinds of commodities falling on a month on month basis, and 2 kinds of commodities falling by more than 5%, accounting for 12.5% of the number of commodities monitored in this sector; the top 3 products falling were asphalt (-10.68%), WTI crude oil (-10.11%) and thermal coal (-3.45%). This week's average was -0.71%.

Market Forecast

At present, the civil use of LPG is mainly stable, and the methanol market is running higher, which has boosted the market. However, the terminal demand of DME market is still limited, with limited benefits. It is expected that the market will maintain stability in the near future.

 

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