SunSirs: China DME Market fell first and then stabilized in June
June 29 2023 14:01:34 SunSirs (Selena)
In June, the domestic DME market in Henan declined significantly. According to the data monitoring of SunSirs, the average price of DME in Henan market was 4,125 RMB/ton on June 1, and 3,760 RMB/ton on June 28. The monthly decline was 8.85 RMB, 2.34% lower than the same period last year.
In June, the decline in the domestic DME market increased and deepened. In the first half of June, the DME market in Henan region experienced a significant decline. Due to the significant suppression of downstream demand, upstream inventory quickly accumulated, and upstream prices were significantly adjusted to stimulate sales. The surrounding markets have also fallen synchronously, while crude oil prices have slightly adjusted, and the prices of related liquefied gas products have fluctuated at the bottom, supporting weak news. Entering the second half of the month, the market for DME has seen a stable review. Under demand constraints, the positive news has limited boost, while the bearish trend has led to a clear and steady decline in the overall market,
The raw material methanol market first fell and then rose, strengthening support for DME. Especially in the second half of June, the market started to recover, but the overall supply on the market was loose, with limited changes in demand, which suppressed price increases. From June 1st to 28th, the average price of East China ports in the domestic methanol market dropped from 2,161 RMB/ton to 2,103 RMB/ton. The price fell by 2.68% during the cycle.
Overall, the current price of DME has fallen to a low point, but the industry has a strong bearish attitude towards the future market. It is expected to enter July, with high and stable weather further suppressing demand and the DME market operating in a weak and volatile manner.
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