SunSirs: Limited Demand, China DME Market Fell First and then Stabilized
October 25 2022 15:26:47 SunSirs (Selena)
Last week, the domestic DME market generally declined, while the Henan market fell first and then stabilized, with a significant decline. According to the data monitoring of the business community, the average price of DME in Henan market was 4,660 RMB/ ton on October 17 and 4,560 RMB/ ton on October 24, with a decline of 2.15% in the week and 21.48% compared with the same period last year.
Last week, the domestic DME market as a whole was dominated by weakness. The Henan market fell first and then stabilized. The Hebei and Jiangxi markets also declined to varying degrees. Although the cost of methanol rose in the week, the price of liquefied gas related products fell due to the decline of international crude oil. In addition, due to the recent social and public health events, the market transportation is limited, the manufacturer's shipment is blocked, and the inventory has increased. In terms of demand, the improvement of terminal consumption capacity is limited at present, and most downstream enterprises maintain the replenishment on demand, so they are cautious. Negative factors dominated the DME market.
To sum up, the current market price of methanol as raw material is rising. In terms of demand, the improvement of terminal demand is limited, the downstream is cautious, and the market trading atmosphere is general. However, the current low level of supply in Henan market has brought certain benefits. It is expected that China DME will continue to consolidate in the short term.
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