SunSirs: This Week, the DME Market Went Down under Pressure (March 13-17)
March 20 2023 11:32:55 SunSirs (John)
Price trend
This week (3.13-3.17), the overall domestic DME market fell first and then stabilized, with the market in Henan temporarily stable. According to data monitoring by SunSirs, the average market price of DME in Henan was 4,350 RMB/ton on March 13, while the average price on March 17 was 4,300 RMB/ton, a decrease of 1.15%, and an increase of 4.05% compared to the same period last year.
Analysis review
This week, the focus of transactions in the DME market in Henan Province shifted downward, and the pressure on market supply and demand remained unabated. In the early stage, due to the increase in on-site inventory, prices were lowered, but whick did not effectively stimulate demand. Subsequently, the market downturn was difficult to change, and the phenomenon of cost inversion was serious. At the same time, liquefied petroleum gas (LPG), a related product, fell sharply this week, further depressing the mindset of the industry.
The raw material methanol market was weak and fell, with a larger decline and weaker cost support, which had a negative impact on the DME market.
Market outlook
Overall, weak demand is difficult to overcome, and the decline in cost further constrains the DME market. It is expected that the probability of further decline in the methyl ether market next Tuesday will increase.
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