SunSirs: Demand Was Insufficient, and the Silicone DMC Market Weakly Declined after the Holiday
October 16 2023 10:51:34 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of October 13, 2023, the domestic market price of silicone DMC was referenced at 14,540 RMB/ton. Compared with October 1 (silicone DMC reference 14,860 RMB/ton), the price was reduced by 320 RMB/ton, a decrease of 2.15%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that after the National Day holiday, the overall domestic silicone DMC market had shown a weak and declining trend. After the holiday, the trading atmosphere on the silicone DMC floor was light, downstream demand was weak, and new orders were limited, resulting in overall supply pressure on the floor. In terms of cost, the market for raw material metal silicon was weak after the holiday, and the cost support provided to silicone DMC was also loosened. After the holiday, although the prices of major factories in Shandong remained stable, some factories and suppliers offered discounts and lowered the price of silicone DMC by around 200 to 300 RMB/ton. As of October 13th, the domestic silicone DMC market price was based on 14,200-14,800 RMB/ton.
Market outlook
As of October 13th, the trading atmosphere in the silicone DMC market was mild. After the market fell to a low point, short-term bargain-hunting and stocking in the downstream might drive a temporary increase in demand. However, in the long run, the overall performance of the silicone DMC market still shows strong supply and weak demand. Therefore, the silicone DMC data analyst from SunSirs believes that in the short term, the domestic silicone DMC market will mostly adjust to be weaker in a narrow range.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-03-27 SunSirs: Demand Was Weak and the Silicone DMC Market Was Weak and Declined This Week
- 2024-02-05 SunSirs: This Week, the Silicone DMC Market Experienced Slight Fluctuations (January 29-February 4)
- 2024-02-01 SunSirs: The Silicone DMC Market Rose in January
- 2024-01-23 SunSirs: In Mid January, the Silicone DMC Market Operated Steadily at a High Level (January 10-19)
- 2024-01-10 SunSirs: Starting with an Upward Trend, Silicone DMC Rose 2.66% in Two Days
