SunSirs: DME Rose Narrowly This Week (April 3-7)
April 10 2023 14:22:58 SunSirs (John)
Price trend
This week (4.3-4.7), the domestic DME market as a whole remained stable and rose, with a slight increase in Henan region. According to the Commodity Market Analysis System of SunSirs, the average price of DME in the Henan market was 4,080 RMB/ton on April 3, and 4,125 RMB/ton on April 7, and an increase of 1.1%, a decrease of 1.71% compared to the same period last year.
Analysis review
This week, the DME market in Henan Province experienced a tentative increase, and the pressure on supply and demand in the market had eased. Due to the shutdown and maintenance of the 200,000 ton DME unit in Henan Kaixiang at the beginning of the month, market supply decreased, and crude oil surged significantly during the week, boosting the mindset of the industry. On the demand side, mainly rigid demand and on-site inventory was relatively high, which lacked power to continue to rise.
The raw material methanol market was weak and declining, which had limited support for the cost side of DME, and the bearish situation was holding back the upward trend of DME.
Market outlook
Overall, although the supply has decreased, the demand increment is limited, and the favorable supply side is gradually digesting. It is expected that the DME market will stop rising and stabilize in the short term.
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