Price trend

According to the Commodity Market Analysis System of SunSirs, as of June 24th, the average quotation price of domestic high-quality DMF enterprises was 4,170 RMB/ton. This week, DMF prices have been the main trend, with a stronger price trend. Compared with the same period last week, the price has increased by 3.22%, or 100 RMB/ton. Currently, the DMF market is observing and consolidating.

Analysis review

In terms of cost, the upstream methanol market price is relatively firm, and the port trend is stronger than that of the mainland. In the short term, the port market will maintain a high level of operation, while downstream demand procurement will be the main focus. Currently, the mainland market maintains a high operating rate, and raw material procurement is cautious. Traders have a low price reluctance to sell. In terms of port: the arrival at the port is not as expected, the port market is active, and cargo rights are relatively concentrated. It is expected that prices will continue to rise in the short term.

In terms of demand: Recently, the DMF market demand has been poor, and the overall market is weak with a wait-and-see attitude. This week, the operating rate of enterprises has remained stable, and there has been no news of new device maintenance. Currently, the overall inventory is running at a high level, and the supply of spot goods exceeds the demand. The pressure on the demand side is high, and it is difficult to alleviate in the short term. The wait-and-see atmosphere is obvious, and prices are fluctuating weakly. In terms of market mentality, the supply and demand are deadlocked. Business operators have a general mentality in the future and operate cautiously.

On the supply side: This week, the DMF market is observing and consolidating. On the supply side, Xinghua's equipment will undergo maintenance at the end of the month. At that time, the factory's inventory is running at a high level, and the supply side is sufficient. Currently, downstream is still in the off-season, with demand based procurement as the main focus and slow shipments. It is difficult to increase the volume of actual orders and deliveries. It is expected that the overall market supply and demand will be balanced in the short term, and there will be no supply pressure.

Market outlook

DMF analysts from SunSirs believe that the downstream DMF market is currently beyond the off-season level, with on-demand procurement as the main focus, smooth market shipments, and remaining inventory pressure. It is expected that the DMF market will be stable and stronger in the short term.

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