SunSirs: Transaction gradually Weakened, DME Market Fell significantly
February 10 2021 10:38:07 SunSirs (Selena)
In February, the DME market only rose slightly at the beginning of the month, then weakened and fell continuously. The current domestic market price is about 3300-3400 RMB/ ton. According to the data monitoring of SunSirs, the average price of DME in Henan market was 3,446.67 RMB/ ton on February 1, and 3,380.00 RMB/ ton on February 8, with a decrease of 1.93% during the period.
As for the cost of methanol, due to the recent downturn in the domestic methanol market, the benefits to the DME Market are limited. According to the monitoring data of business news agency, as of February 7, the average price of methanol producers in Shandong was 2,245 RMB/ ton, with a month on month decrease of 1.10% and a year-on-year increase of 1.81%. As the Spring Festival approaches, there is a shortage of transport vehicles, which is not conducive to the circulation of methanol goods. The domestic methanol market is difficult to change in the near future.
Due to the weak consolidation of methanol cost, the civil LPG market fluctuated and fell, and the support to DME was limited. In addition, the Spring Festival is coming, although some enterprises in the main production area of Henan market have stopped, most of the downstream replenishment has ended, the manufacturers' shipment continues to be sluggish, and the inventory has risen to the median level. In the short term, the DME market is mainly consolidated, and it is expected that China DME market may rise slightly after the Spring Festival.
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