SunSirs: This Week, the DME Market Was Sorted out (May 8-12)
May 16 2023 10:27:00 SunSirs (John)
Price trend
This week (5.8-5.12), the overall changes in the domestic DME market were limited, with Henan region temporarily operating steadily. According to the Commodity Market Analysis System of SunSirs, the average price of DME in the Henan market was 4,160 RMB/ton on May 8th, and 4,160 RMB/ton on May 12th, with no increase or decrease, and an increase of 0.73% compared to the same period last year.
Analysis review
After the holiday, the domestic DME market as a whole rose, and prices returned to stability this week. Downstream centralized stocking before the holiday, and DME enterprises effectively reduced inventory. After the holiday, there was a strong attitude of favoring prices, and prices were slightly pushed up. The market trading was stable this week, and the atmosphere of downstream purchasing goods was acceptable. The phased replenishment of downstream products ended, and related products experienced a broad decline within the week. The negative impact had gradually become prominent, and the focus of DME showed a downward trend.
According to the Commodity Market Analysis System of SunSirs, the average price of methanol at the East China port dropped from 2,441 RMB/ton to 2,352 RMB/ton this week. The price fell by 3.42% during the cycle, and the support of methanol on the cost side for DME weakened.
Market outlook
Overall, the supply side remains stable, with bearish news and cost side effects, and the demand side maintaining just needed support. Under the long short game, it is expected that the DME market will remain stagnant and sort out in the short term.
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