SunSirs: Periodic Replenishment, China DME Rose partially
January 09 2023 09:47:37 SunSirs (Selena)
Last week (1.3-1.6), the domestic DME market rose steadily, with Henan market rising slightly. According to the data monitoring of SunSirs, the average price of DME in Henan market was 4,400 RMB/ton on January 3 and 4,475 RMB/ton on January 6, up 1.7% in the week and 20.62% compared with the same period last year.
Last week, the price of DME in Henan Province increased slightly. The replenishment of downstream products after the festival was OK, and the factory increased slightly. In other regions, the supply of goods is stable, the downstream demand is strong, and the price is stable. Liquefied gas, a related product, had a good trend in the week, supporting the DME market. However, with the weakening of international crude oil prices, it depressed the mentality of the industry, leading to increased resistance to inflation, with narrow adjustment as the main factor.
The raw material methanol has been put into operation, and the price has fallen after rising. The domestic supply level may continue to maintain a high level. It is expected that the short-term market will maintain a volatile finishing operation.
To sum up, with the end of the periodic replenishment in the future market, the demand is expected to weaken. It is expected that China DME market will maintain stable operation in the near future.
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