SunSirs: China DME Market Rose first and then Stabilized in December
December 29 2023 10:09:11 SunSirs (Selena)
In December, the domestic DME market in Henan first rose and then stabilized. According to data monitoring by SunSirs, the average price of DME in the Henan market was 3,650 RMB/ton on December 1st, and 3,775 RMB/ton on December 27th. The monthly increase was 3.42%, a decrease of 16.11% compared to the same period last year.
In December, the DME market in Henan Province experienced an upward trend during the month, and remained stable at the beginning and end of the month. During the mid month period, the price of raw material methanol remained relatively strong, providing stronger support for DME. Affected by the cooling down, downstream concentrated replenishment has driven effective flow of market goods, resulting in a decrease in enterprise inventory and a firm upward trend in prices. After the rise, the market stabilized, and the cost side benefits were exhausted. Downstream restocking ended, and the market returned to a stalemate between production and sales.
The methanol market fluctuated significantly in December, with a price trend showing an "N" shape. From December 1st to 27th (as of 3:00 pm), the average price of methanol in East China ports in the domestic methanol market dropped from 2,505 RMB/ton to 2,447 RMB/ton, with a price drop of 2.30% during the cycle. The methanol market has experienced ups and downs, supporting the DME market from bullish to bearish.
Overall, the current DME market has a strong wait-and-see atmosphere, with primary demand and no obvious positive signals to support it in the future. It is expected to operate weakly and steadily in the short term.
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