SunSirs: This Week, the DME Market Maintained Stable (October 16-20)
October 24 2023 10:44:00 SunSirs (John)
Price trend
This week (10.16-10.20), the domestic DME market maintained stable operation. According to the Commodity Market Analysis System of SunSirs, the average price of DME in the Henan market was 4,680 RMB/ton on October 16th, and 4,680 RMB/ton on October 20th. There was no increase or decrease during the cycle, and an increase of 2.63% compared to the same period last year.
Analysis review
This week, the domestic DME market maintained stable overall, with mainstream prices in the Henan market ranging from 3,950 to 4,000 RMB/ton. Recently, the price of raw material methanol declined, coupled with the decline of related liquefied gas products, which had reduced the price difference of gas and ether and constrained the market situation. Downstream market entry enthusiasm was not high, mainly just on demand, the market mentality was weak, and buying momentum was insufficient.
According to the Commodity Market Analysis System of SunSirs, the price of raw material methanol fluctuated and decreased this week, falling from 2,510 RMB/ton at the beginning of the week to 2,455 RMB/ton at the end of the week, a decrease of 2.22%. The cost support for DME weakened.
Market outlook
Overall, under the influence of various bearish factors such as weak downstream demand and declining costs, it is expected that the possibility of a weak downward trend for DME in the short term will increase.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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