SunSirs: The Silicone DMC Market Was Upward Overall in August (August 1-29)

Price trend

According to monitoring data from SunSirs, as of August 29, 2023, the domestic market price of silicone DMC was referenced at 13,340 RMB/ton. Compared with August 1 (silicone DMC reference price was 13,020 RMB/ton), the price increased by 320 RMB/ton, an increase of 2.46%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that the domestic silicone DMC market showed an overall upward trend since August (8.1-8.29). In early August, the silicone DMC market experienced a "first decline followed by an increase". In early August, the downstream demand for silicone DMC was average, and the on-site trading atmosphere was light. A Shandong large factory lowered the price of silicone DMC by 200 RMB/ton, and the on-site low price of silicone DMC dropped to 12,600 RMB/ton. Other factories and suppliers also slightly reduced prices with the large factory, with a decrease of around 100-200 RMB/ton. On August 4th, the market price of silicone DMC fell to the low point of the month, referring to around 12,900 RMB/ton. Subsequently, the silicone DMC market remained stable and organized. Starting from August 8th, with the cost support provided by the upward trend in the raw material metal silicon market, silicone DMC factories and suppliers actively raised the price of silicone DMC. The silicone DMC market experienced a long overdue upward trend. As of August 15th, the domestic silicone DMC market price reference was around 13,300-13,600 RMB/ton.

With the continuous upward trend of the market, the downstream demand for silicone DMC had also been boosted. In late August, the focus of the domestic silicone DMC market continued to move upwards. The Shandong large factory continued to raise the price of silicone DMC to around 13,500 RMB/ton, and the prices of leading large factories had also climbed to around 13,600-13,800 RMB/ton. At the end of the month, the silicone DMC market remained stable and slightly declined, while downstream demand weakened. The support provided by the demand side to the silicone DMC market was somewhat loose. As of August 29, the domestic silicone DMC market reference price was around 13,400-13,800 RMB/ton.

Market outlook

As the end of the month approached, the overall trading atmosphere of the silicone DMC market was average. After the market continued to rise, it put certain cost pressure on downstream markets. The pace of downstream stocking slowed down, and the silicone DMC market was generally weak and adjusted. The silicone DMC data analyst from SunSirs believes that in the short term, the domestic silicone DMC market is mainly adjusted and operated in a range, and the specific trend still needs to pay more attention to changes in supply and demand news.

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