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SunSirs: In Mid January, the Silicone DMC Market Operated Steadily at a High Level (January 10-19)

January 23 2024 15:09:25     SunSirs (John)

Price trend

According to monitoring data from SunSirs, as of January 19, 2023, the domestic market price reference for silicone DMC was 14,760 RMB/ton, which was basically unchanged compared to January 10; Compared to January 1st (silicone DMC reference 13,940 RMB/ton), the price had increased by 820 RMB/ton, an increase of 5.88%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that during the mid month period (1.10 to 1.19), the overall domestic silicone DMC market remained stable at a high level. In early January, the domestic silicone DMC market experienced a broad upward trend, with high-end prices breaking through the 15,000 RMB/ton mark, an increase of 5.88% in early January. In mid January, the domestic silicone DMC market showed a stable operation after an increase, with overall price fluctuations not significant. Some factory orders were scheduled for the early Spring Festival, and supply side pressure was relatively low. Many factories maintained strong quotations. As of January 19th, the overall inquiry atmosphere in the downstream of silicone DMC had weakened. After a round of buying up orders in the early stage, most of the downstream orders were in the period of digesting raw materials, and new orders were mostly in demand. As of January 19th, the domestic market price of silicone DMC was based on around 14,600-15,000 RMB/ton.

Market outlook

After a round of upward movement at the beginning of the month, the overall performance of the silicone DMC market had returned to calm, and downstream new order markets had also increased some wait-and-see sentiment. However, as of January 19th, the silicone DMC market still had support from low supply side inventory. Therefore, the silicone DMC data analyst from SunSirs believes that in the short term, the domestic silicone DMC market will mainly continue to operate steadily, and the specific trend still needs to pay more attention to changes in supply and demand news.

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