SunSirs: China DME Market Stabilized first and then Rose in April
April 30 2024 10:38:01 SunSirs (Selena)
The domestic DME market stabilized first and then rose in April. According to data monitoring from SunSirs, the average price of DME in the Henan market was 3,600 RMB/ton on April 1st, and 3,840 RMB/ton on April 28th. The monthly increase was 6.67%, a decrease of 6.11% compared to the same period last year.
In April, the DME market in Henan region stabilized first and then rose. In early April, the price of DME remained stable. The on-site supply remains stable, with downstream essential procurement as the main focus. There is a strong wait-and-see atmosphere, and on-site trading is light. Starting from late April, the price of DME has been raised multiple times. The raw material methanol continues to rise, driven by high costs, and the mentality of the industry has slightly improved. Under cost pressure, DME enterprises are pushing up prices, with a significant increase in Henan region. At the same time, downstream consumers have a clear resistance to high priced DME, and demand remains weak.
The raw material methanol market fluctuated and fell. After reaching a low point on April 9th, it began to rise to the monthly high point on April 19th, and then began to fall, providing strong support for DME.
Overall, the support of raw materials for DME has weakened, and it is expected that there will be insufficient momentum for the continued rise of DME in the future. On the contrary, under the constraint of demand, it is expected that the possibility of a slight decline in DME prices will increase.
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