SunSirs: Raw Material Support, China DME Market Rose in November
December 03 2020 10:23:41 SunSirs (Selena)
China DME market price rose in November. In the middle of November, it broke through the 3,000 yuan / ton mark. In the last ten days, it was mainly consolidation, hovering around 3,000 yuan/ ton. According to the data monitoring of SunSirs, the average price of DME in Henan market on November 1 was 2,620.00 yuan / ton, and on November 30 it was 3,016.67 yuan / ton, with an increase of 15.14% in November and 2.26% compared with the same period last year.
In November, all energy products rose, bringing certain benefits to the market, and DME accounted for the third largest increase in the energy sector. According to the price monitoring of SunSirs, in November 2020, there were 16 kinds of commodities in the energy sector that rose on a month on month basis, including 7 commodities with an increase of more than 5%, accounting for 43.8% of the total number of commodities monitored in the board; the top three commodities were WTI crude oil (25.88%), Brent crude oil (25.04%) and DME (15.14%). There were 0 kinds of commodities falling month on month. Last month, the average rise and fall was 7.46%.
At the end of November, with the introduction of CP in December, propane and butane rose, which boosted the LPG market. At present, the civil LPG market has stopped falling and turned to rise, bringing certain benefits to the DME market. In addition, the raw material methanol high-level consolidation, cost support is obvious. In December, as the weather continues to cool down, the terminal demand is expected to rise. Generally speaking, there are many favorable factors in the market in December, and the DME market is expected to continue to rise.
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