Price trend

According to the commodity market analysis system of SunSirs, as of July 30, the average price of high-quality DMF quoted by domestic DMF companies was 4,120 RMB/ton, a decrease of 1.2% compared with the same period last month. As of July 30, the prices of DMF manufacturers were mainly stable, with a narrow and weaker trend. The DMF market was temporarily operating in a narrow and weaker range, the focus of negotiations was stable, and the purchasing atmosphere was general.

Supply side

Market: The overall DMF market was weaker in August, with prices falling slightly. The reference price for DMF spot delivery in South China was 4,200-4,300 RMB/ton in Guangzhou market. As of July 30, the focus of DMF market negotiations was declining. The reference price for bulk DMF  delivery in East China was 4,000-4,150 RMB/ton in Jiangsu and 4,050-4,200 RMB/ton in Zhejiang. The 120,000 tons/year DMF unit of Anyang Jiutian Fine Chemical in Henan Province was shut down and there was no restart plan. The 100,000 tons/year DMF unit of Shaanxi Yanchang Petroleum Xinghua Chemical was shut down for maintenance on June 25, and the restart time is expected to be postponed. The 100,000 tons DMF unit of Hualu Hengsheng is expected to be overhauled on July 31, and the maintenance time is 10 days.

On the upstream side: As of July 30, methanol futures fluctuated to be weaker, and the spot price of methanol in the local storage area of Guangdong ports was quoted at 2,400-2,410 RMB/ton. The nearby tax-inclusive methanol market was strong. Recently, the methanol plants in Northwest and North China were undergoing concentrated maintenance. Methanol companies had no inventory pressure. The supply in the mainland market was not large. The methanol market will maintain a stronger operation in the short term. The inventory level was low, the traditional off-season demand continued, and the overall supply and demand were flat. Inner Mongolia Northwest Energy's methanol starting price on July 30 was 2,075 RMB/ton (ex-factory in cash), with a quantity of 2,000 tons, and the transaction situation is to be tracked.

Market outlook

DMF analysts of SunSirs believe that DMF prices will remain stable in the DMF market in the short term.

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