SunSirs: Cost Increases, China DME slightly increases (July 4-August 4)
August 07 2023 10:26:52 SunSirs (Selena)
Last week (7.31-7.4), the domestic dimethyl ether market rose slightly. According to the commodity market analysis system of the business community, the average price of dimethyl ether in Henan market was 3,935 RMB/ton on July 31, and 4,050 RMB/ton on August 4, up 2.92% in the cycle, up 6.3% compared with the same period last year.
Last week, there was a significant increase in the domestic dimethyl ether market. Due to mainstream factories reducing their burden, the supply in Henan region has decreased, boosted by the rise in raw material prices, and the broad upward trend of related products, the upstream has actively pushed up. Downstream performance is average, with a focus on demand and a resistance towards high priced sources.
According to the Commodity Market Analysis System of SunSirs, the price of raw material methanol fluctuated and increased last week, rising from 2,280 RMB/ton at the beginning of the week to 2,355 RMB/ton at the weekend, an increase of 3.4%. The rise in methanol prices is the main reason driving the increase in dimethyl ether in this round.
Overall, if there is a weakening of cost support in the later stage, and the enthusiasm for downstream market entry is not high, the space for dimethyl ether to continue to rise is limited, and consolidation operation is the main focus.
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