SunSirs: China DME Market Maintained Stable Last Week (March 4-8)
March 12 2024 10:22:40 SunSirs (Selena)
Last week (3.4-3.8), the domestic DME market was weak and stable. According to the commodity market analysis system of SunSirs, the average price of DME in the Henan market on March 4th was 3,740 RMB/ton, and on March 8th it was 3,740 RMB/ton. There was no fluctuation during the cycle, and it decreased by 13.63% compared to the same period last year.
Last week, the performance of the domestic DME market was average. During the week, the price of raw material methanol increased, and the cost support strengthened. However, due to weak demand, DME did not follow the rise. In the later part of the week, the price of related LPG decreased, while the price of raw materials fluctuated. The positive support gradually weakened, and the DME market maintained stable operation.
According to the commodity market analysis system of SunSirs, as methanol prices fluctuated upwards in March, support for DME gradually increased. However, due to weak demand, the profit margin of DME market tightened.
Overall, the market supply is stable, inventory pressure is not high, cost support is strengthened, and downstream demand is maintained. It is difficult to see any improvement in the near future, and it is expected that the DME market will remain stagnant and operate in consolidation.
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