1. Price trend

According to the commodity market analysis system of SunSirs: as of June 24, the average price of domestic high-quality DMF enterprises was 4,170 RMB/ton. This week, DMF prices were mainly upward, and prices were strong. Compared with the same period last week, it increased by 3.22%, an increase of 100 RMB per ton. At present, the DMF market is waiting and sorting.

2. Reason analysis

In terms of cost: the price of the upstream methanol market is relatively strong, and the port trend is stronger than the mainland trend. In the short term, the port market will maintain a high level of operation, and the downstream rigid demand purchase is the main one. At present, the mainland market maintains a high operating rate, and the raw material purchase is cautious. Traders are reluctant to sell at low prices. In terms of ports: the arrival of ports is lower than expected, the port market is positive, and the cargo rights are relatively concentrated. It is expected that prices will continue to rise in the short term.

Demand: The demand for DMF market has been poor recently, and the overall market is weak and wait-and-see. The operating rate of enterprises this week is stable, and there is no news of new equipment maintenance. At present, the overall inventory is running at a high level, the spot supply exceeds the demand, the demand pressure is high, and it is difficult to ease in the short term. The wait-and-see atmosphere is obvious, and the price fluctuates and runs weakly. In terms of market mentality, the supply and demand stalemate is generally in a general state, and the operation is cautious.

Supply: This week, the DMF market is waiting and sorting. In terms of supply, the Xinghua device is overhauled at the end of the month. At that time, the factory inventory was running at a high level, and the supply side was sufficient. At present, the downstream is still in the off-season, mainly on-demand procurement, slow shipments, and it is difficult to increase the volume of real orders. It is expected that the overall market supply and demand will be balanced in the short term, and there will be no pressure on supply.

3. Market Forecast

DMF analysts of SunSirs believe that the current DMF downstream is beyond the off-season level, mainly on-demand procurement, smooth market shipments, and inventory pressure still exists. It is expected that the DMF market will be stable and strong in the short term.

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