SunSirs: China DME Market Rose first and then Fell in October
October 31 2023 09:58:19 SunSirs (Selena)
In October, the domestic DME market in Henan rose and then fell. According to data monitoring by SunSirs, the average price of DME in the Henan market was 4,220 RMB/ton on October 1st, and 3,835 RMB/ton on October 28th. The monthly decline was 9.12%, a decrease of 15.9% compared to the same period last year.
In October, the overall performance of the domestic DME market was weak, with some markets experiencing significant price declines. After the holiday, the focus of the DME market shifted upwards. Due to the relatively sluggish market in the early stage, the price difference with liquefied gas widened. After the holiday, there were periodic restocking in the downstream, leading to a slight increase in prices. Subsequently, the number of on-site driving enterprises increased, and the supply side was loose. In addition, due to downstream safety inspections, on-site inventory accumulated, and Henan large factories significantly adjusted their prices, while other small factories slightly lowered their prices.
The raw material methanol market fluctuated and fell in October. The on-site supply is sufficient, and the support for DME is gradually weakening.
Overall, the contradiction between supply and demand in the DME market has intensified, with sufficient supply, weak demand, and tight profits. It is expected that the DME market will continue to operate in a weak manner in the short term.
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