SunSirs: DMF Prices Fell by Nearly 10% in October
November 01 2023 10:46:23 SunSirs (John)
Price trend
According to data monitored by SunSirs, as of October 30th, the average price quoted by domestic premium DMF enterprises was 4,800 RMB/ton. In October, the DMF price slightly decreased, with a decrease of 9.86%. Currently, the mainstream price is around 4,800 RMB/ton, and the overall market supply and demand is balanced.
Analysis review
In October, the price trend of DMF decreased, with the price at the beginning of the month being 5325 RMB/ton and the price at the end of the month being 4800 RMB/ton. Currently, the mainstream price is around 5400 RMB/ton, with insufficient downstream demand and slow shipments. The main focus is on just in need of goods, and upstream cost support is weak. Currently, logistics shipments are smooth, and manufacturers mainly sell orders at a profit margin. Latest quotation from the manufacturer: Shandong Longshun Chemical Co., Ltd. quoted 5,290 RMB/ton, Shandong Hongyang Chemical Co., Ltd. quoted 4,800 RMB/ton, and Nantong Runfeng Petrochemical Co., Ltd. quoted 5,000 RMB/ton.
Chemical Index: On October 29, the chemical index stood at 888 points, unchanged from the previous day, a decrease of 36.57% from the cycle's highest point of 1,400 points (2021-10-23), and an increase of 48.49% from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present)
Market outlook
DMF analysts from SunSirs believe that the recovery of downstream demand is slow, and upstream cost support is weak. In the short term, the DMF market is stable and weaker, with prices maintained at around 4,800 RMB/ton.
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- 2024-03-25 SunSirs: Upstream Support Was Good, and DMF Prices Were Rising Narrowly
- 2024-03-15 SunSirs: DMF Market Slightly Rose (March 7-14)
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