On August 10, 2026, the comprehensive benchmark price for DMF (tracked by SunSirs) stood at 4,420 RMB/ton—unchanged from the 4,420 RMB/ton recorded on August 1. Current spot prices remain in the low-to-mid range for the year (with a yearly low of 3,820 RMB/ton and a median of 4,830 RMB/ton). Downside potential is relatively limited, and the market has a foundation for an upward trend should demand see a substantial recovery.

In the short term, the market is characterized by stable, narrow-range fluctuations. Regional spot quotes are largely uniform, with only minor price differentials (premiums or discounts) arising from logistics and branding; mainstream delivered prices in East China are 4,450–4,500 RMB/ton, while ex-factory prices in Shandong are 4,380–4,420 RMB/ton—maintaining standard price spreads.

Prices for core DMF feedstocks—methanol and dimethylamine—remained steady this week. Methanol spot prices fluctuated within a narrow range, causing no significant cost volatility. Dimethylamine plant operations were stable with ample raw material supplies; upstream factors provided neither strong upward price pressure nor bearish logic for a sharp cost decline. Consequently, the cost side maintained a static equilibrium, acting merely as a floor for DMF prices rather than driving significant directional shifts. Integrated producers leveraged their own methanol facilities to maintain stable cost advantages, while producers relying on purchased raw materials continued to face standard levels of loss; neither group showed an inclination for aggressive price-cutting or inventory dumping.

Domestic DMF operating rates remained at moderate levels, with no widespread shutdowns for maintenance or large-scale production restarts. The total volume of circulating goods remained stable, and factory inventories held at normal turnover levels, showing no significant accumulation or depletion. Producers focused primarily on fulfilling existing long-term contracts, limiting the volume of spot goods available. Suppliers maintained a steady pricing stance without actively offering concessions to move stock. This lack of significant supply-demand imbalance is the primary factor sustaining the current market stalemate.

The primary consumption sectors for DMF are PU synthetic leather and resin slurries. Currently, the textile and synthetic leather industries are in a seasonal transition phase; downstream factories continue to purchase on an as-needed basis, with little bulk locking or advance stockpiling, resulting in weak release of essential end-user demand. While demand for acrylic fiber and pharmaceutical solvents remains steady and inelastic, these sectors account for a limited share of total volume and are insufficient to drive a significant increase in overall procurement. Demand for high-purity electronic-grade DMF shows independent resilience, diverging from the market trend for general industrial-grade material; quotes for high-end products remain firm, whereas trading for standard industrial-grade material is sluggish—characterized by numerous inquiries but few actual orders and a lackluster trading atmosphere. Overseas export orders remain stable, but export volumes are only sufficient to divert a small portion of domestic surplus supply, failing to alter the stagnant domestic spot market.

The market currently lacks clear catalysts for either a bullish or bearish shift: upstream costs are stable, there is no significant contraction in supply, and the traditional off-season for downstream slurries has not yet fully concluded. With insufficient bullish support, DMF prices are expected to remain stable within a narrow range of 4,400–4,500 RMB/ton in the short term. Key factors to monitor include the timing of downstream textile manufacturers initiating early autumn/winter restocking, fluctuations in the price of upstream methanol feedstock, and domestic plant maintenance schedules. Spot prices will only gain upward momentum if concentrated end-user restocking materializes; absent an increase in demand, the pattern of low-level price fluctuation will persist.

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