SunSirs: China DME Fell on a Large Scale due to Light Buying
December 26 2022 10:12:07 SunSirs (Selena)
Last week (12.19-12.23), the transaction center of domestic DME market continued to move downward, and the market in Henan was temporarily stable. According to the data monitoring of SunSirs, the average price of DME in Henan market was 4,500 RMB/ton on December 19, and 4,500 RMB/ton on December 23. There was no rise or fall in the week, up 21.46% compared with the same period last year.
Last week, the overall transaction focus of the domestic DME market further moved down, with Shandong and Hebei falling significantly, and individual enterprises in Henan falling slightly. The parking and driving events of mainstream factories in Henan Province are pending, leading to further tightening of local supply of DME. However, due to the impact of the surrounding land price and supply, the price of DME has loosened, and the center of gravity of transactions in the market has moved downward. Downstream demand has not improved significantly, and it is further constrained by recent domestic public security incidents.
The raw material methanol market continues to be weak, with traditional downstream parking and upstream destocking. It is expected that the market will remain weak in the near future.
In general, the methanol market at the cost end remains weak, the demand side is slowly increasing, and the supply and demand are weak. It is expected that China Henan DME market will maintain a weak shock trend this week.
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