SunSirs: China DME Market Saw a Slight Decline Last Week (February 18-23)
February 26 2024 10:25:24 SunSirs (Selena)
Last week (2.18-2.23), the domestic DME market experienced a weak downturn. According to the commodity market analysis system of SunSirs, the average price of DME in the Henan market on February 18th was 3,865 RMB/ton, and on February 23rd it was 3,835 RMB/ton, a decrease of 0.78% during the cycle and a decrease of 13.82% compared to the same period last year.
Last week, the domestic DME market performed weakly. After the year, the market started slowly, downstream entry was not active, upstream goods were not smooth, and the price center shifted downwards. Liquefied gas, a related product, is also weak, with a small price difference compared to DME, leading to intensified supply-demand contradictions in the market. Under the trend of weak production and sales, the price of DME has fallen.
According to the commodity market analysis system of SunSirs, methanol prices have been fluctuating downwards recently, gradually increasing support for DME. However, due to weak demand, the profit margin of DME has tightened.
Overall, upstream factories are expected to resume work in the future, with an increase in supply and no significant improvement in demand. It is expected that DME will operate weakly in the short term.
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