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SunSirs: DMF Market Slightly Rose (March 1-8)

March 11 2024 15:02:32     SunSirs (John)

Price trend

According to data monitored by SunSirs, as of March 8th, the average price of premium DMF quoted by domestic DMF enterprises was 4,600 RMB/ton. This week, DMF prices had been operating in a narrow upward trend, with a 0.27% increase compared to the same period last week. As of March 8th, the mainstream price was around 4,700-4,800 RMB/ton. The overall market supply and demand was balanced, with enterprises mainly offering discounts for orders. Logistics was smooth, and the overall market operating rate was stable.

Analysis review

This week, the overall market price of DMF had slightly increased, with a 0.27% increase compared to the same period last week. As of March 8th, the mainstream price range was 4,700-4,800 RMB/ton, and manufacturers were actively shipping. Recently, the demand for upstream methanol market had improved, with a stable to strong fluctuation. As of March 8th, the cost side of DMF had some support, and it will continue to operate steadily with a strong trend in the near future. Downstream enterprises purchased mainly on demand, and the transaction atmosphere as slightly flat. The operating rate was stable, and logistics shipments were smooth. Latest quotation from the manufacturers: Qingdao Hefeng Chemical Co., Ltd. offered a price of 4,450 RMB/ton, Jinan Pulaihua Chemical Co., Ltd. offerda price of 4,800 RMB/ton, and Shandong Jinshengrun Chemical Co., Ltd. offered a price of 4,450 RMB/ton.

Chemical index: On March 7th, the chemical index was 860 points, a decrease of 2 points from the previous day, a decrease of 38.57% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 43.81% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to 2011-12-01 present).

Market outlook

SunSirs’ DMF analysts believe that in the short term, the DMF market will maintain a stable, to stronger operation, with strong support from upstream costs, and mainstream prices maintained at 4,700-4,800 RMB/ton.

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