SunSirs: Narrow Decline in China DME Market in February 2024
February 29 2024 10:51:57 SunSirs (Selena)
In February, the domestic DME market in Henan slightly declined. According to data monitoring from SunSirs, the average price of DME in the Henan market was 3,865 RMB/ton on February 1st, and 3,835 RMB/ton on February 27th. The monthly decline was 0.78%, a decrease of 11.84% compared to the same period last year.
The overall performance of the DME market in February was weak. Starting from the beginning of the month, the market has gradually entered a holiday mode, with upstream factories shutting down one after another, supply tightening, downstream stocking completed, and demand weakening. Returning from the Spring Festival holiday, the manufacturer's sales situation is average, and downstream start-up is slow. The trading atmosphere is cold, and DME is sold at a discounted price.
The raw material methanol market is fluctuating and rising, with some cost support. However, due to the drag of demand, the DME market is under pressure and falling.
Overall, upstream factories are gradually resuming work, supply expectations are increasing, demand is expected to remain weak, and it is expected that the DME market will operate weakly in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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