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SunSirs: DME Market Continued to Rise in Early September
September 06 2022 14:48:31SunSirs(John)

Price trend

In September, the domestic market price of DME continued to rise, and the Henan market continued to rise, with a significant range. According to the data monitoring of SunSirs, the average price of DME in Henan market was 3,990.00 RMB/ton on August 29, and the average price on September 5 was 4,160 RMB/ton, with a weekly increase of 4.26%, an increase of 17.43% compared with the same period last year.

Analysis review

This week, the domestic DME market was obviously favorable, and the price was firm and rose. Affected by social public health incidents recently, road transportation in individual areas has been blocked, some manufacturers have parked their installations, and the market supply has continued to decrease. This has boosted the manufacturers' mentality and continuously reported high prices. In addition, the market price of raw material methanol rose mainly during the week, and the market price of related products civil gas also fluctuated higher, which brought certain benefits. The downstream made up on demand, and the market trading atmosphere was mild.

On September 5, the methanol prices of enterprises in southern Shandong were concentrated around 2,630-2,650 RMB/ton, and some local methanol prices in Linyi were around 2,700 RMB/ton. The ex-factory quotation of methanol from enterprises in central and eastern Shandong was around 2,680-2,700 RMB/ton. The methanol market in Huan and Hubei areas rose, and some enterprises in Hubei referenced about 2,505-2,600 RMB/ton for mainstream negotiation; some traders in Hunan offered about 2,700-2,710 RMB/ton.

Market outlook

At present, the raw material methanol market is mainly rising, which brings certain support in terms of cost. As of September 1, the international crude oil futures fell sharply for three consecutive trading days, and the liquefied gas civil market of related products continued to rise weakly due to this impact, and the price weakened slightly. However, the support brought by the low supply in the Henan market is obvious, and the mentality of the manufacturers is relatively strong. It is expected that the DME market may be strong.

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