SunSirs: Weak Supply and Demand, China DME Market is Weak
June 12 2023 10:56:21 SunSirs (Selena)
Last week (6.5-6.9), the DME market in Henan went down steadily. According to the commodity market analysis system of the business community, the average price of DME in Henan market was 4,080 RMB/ton on June 5, and 4,055 RMB/ton on June 9. The average price fell 0.61% in the cycle, up 0.12% compared with the same period last year.
This week, the focus of the DME market in Henan province has shifted downwards, and factories on site have started to reduce their load, resulting in a decrease in supply. Downstream demand is weak, with rigid demand being the main demand, and upstream inventory accumulation increasing. The market of related products has fluctuated and stabilized, but prices are relatively low. Crude oil prices have fallen, and news support has weakened. The DME market is in a weak supply-demand situation, and prices are prone to decline but difficult to rise.
According to the Commodity Market Analysis System of SunSirs, the raw material methanol market is weak and declining, with sufficient market supply and limited demand growth, further weakening cost support.
Overall, the current DME market lacks guidance on positive news and has many negative factors. It is expected that the market for DME will be mainly weak and volatile in China in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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