SunSirs: The DMF Prices Was Downward in January

Price trend

According to data monitored by, as of January 26th, the average price of premium DMF quoted by domestic premium DMF enterprises was 4,700.00 RMB/ton. This week, the DMF price fell by 3.09%, a 1.57% decrease compared to the same period last month. As of January 26th,  the mainstream market price was around 4,700 RMB/ton. Recently, the DMF market had mainly been operating steadily, with limited price fluctuations.

Analysis review

The domestic DMF market experienced a slight decline in December, mainly due to the accelerated pace of new DMF projects. In 2023, the DMF production capacity increased by 650,000 tons to 1.71 million tons, resulting in a significant increase in market supply. Downstream demand was lower than expected, and the industry remained cautious, with a wait-and-see atmosphere remaining. The demand side remained weak, and the focus of market negotiations remained low.

Upstream methanol: Recently, methanol prices had been mainly stable with a stronger trend, and the overall supply pressure in the market still existed. Before the holiday, the main focus was on destocking. Enterprises in the Guanzhong region were operating steadily, and downstream receiving sentiment was average. There were relatively few circulating goods in the East China region, and the unloading speed had slowed down due to weather conditions, resulting in a slight upward trend in prices.

Commodity index: On January 25th, the chemical index was 866 points, unchanged from the previous day, a decrease of 38.14% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 44.82% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to 2011-12-01 present).

Market outlook

DMF analysts from SunSirs believe that the supply side of DMF had increased, downstream demand was insufficient, and inventory consumption was slow, which was difficult to alleviate in the short term. It is expected that the DMF market will remain stable and weaker in February, with prices remaining around 4,500-4,700 RMB/ton.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.