Price trend:
According to the SunSirs' commodity market analysis system, as of October 29, the average price of premium DMF quoted by domestic DMF enterprises was 4,000 RMB/ton. The DMF market was mainly weak in October, with prices declining slightly. Overall, the price fell by 0.99% in October, a drop of about 40 RMB/ton.
Analysis review
Market Overview: In the first half of October, domestic DMF prices showed a stable to slightly weaker trend, with mainstream quotes at 5,500-6,000 RMB/ton (East China). Some companies slightly lowered prices due to inventory pressure. In late October, affected by fluctuations in raw material methanol prices and weak downstream demand, prices were further pressured, with some manufacturers quoting prices falling to 5,300-5,800 RMB/ton, and high-end transactions were scarce.
Supply and demand: Raw material costs: Methanol prices fluctuated (average price in October was about 2,400-2,600 RMB/ton), providing limited support for DMF costs. On the demand side, the operating rates of downstream industries such as PU slurry and electronic chemicals were generally low, and procurement was mainly based on immediate needs, lacking the motivation for concentrated restocking. On the supply side: Some plants completed maintenance, increasing market supply and creating inventory pressure.
In terms of costs: Approvals for domestic coal-to-methanol projects were becoming stricter, the coke oven gas route was affected by steel production cuts, unstable Iranian natural gas supply had led to delays in new capacity, green methanol had become a new demand highlight due to the International Maritime Organization's zero-emission policy, and demand was supported by the restart of MTO units and the commissioning of some downstream new production.
Market Forecast:
According to analysts at SunSirs, the DMF market was operating weakly, with insufficient price increases and sluggish downstream demand. Prices are expected to maintain their trend on October 29th in the short term.
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