SunSirs: DMF Prices Were Weaker in a Narrow Range in September

Price trend

According to the commodity market analysis system of SunSirs, as of September 29, the average price of high-quality DMF quoted by domestic DMF companies was 4,040 RMB/ton. In September, the overall DMF price remained stable, with a narrowly weaker trend. The overall price fell by 1.46% in September.

Analysis review

Market: In September, the DMF market was mainly stable, with a small price fluctuation range. In Shandong and surrounding areas, the spot delivery price was 3,650-3,800 RMB/ton, with limited fluctuation compared with 3,690-3,800 RMB/ton at the beginning of September. In Jiangsu and Zhejiang regions, the price was stable in the range of 3,900-4,000 RMB/ton. In South China, the spot delivery price in the Guangzhou market was 4,000-4,150 RMB/ton, with a weak and stable center.

Supply and demand relationship: In September, the DMF capacity utilization rate was approximately 41.7%, a decrease of 1.4% month-on-month, indicating a contraction on the supply side. However, downstream demand was weak, and replenishment was mainly on demand, resulting in a dull negotiation atmosphere.

In terms of cost: upstream methanol prices were weak. For example, the price of methanol in Inner Mongolia was 2,080-2,100 RMB/ton, and the cost side had insufficient support. In terms of profit: the industry's average profit was about -146 RMB/ton, and companies were under great pressure to make profits.

Market outlook

DMF analysts of SunSirs believe that DMF prices are expected to maintain their current trend in the short term and there is insufficient momentum for price increases.

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