SunSirs: Low Supply, China DME Market Deadlocked
December 12 2022 09:55:29 SunSirs (Selena)
Last week (12.5-12.9), the overall domestic DME market declined slightly, and the price in Henan was temporarily stable. According to the data monitoring of SunSirs, the average price of DME in Henan market was 4,620 RMB/ton on December 5, and 4,620 RMB/ton on December 9. There was no rise or fall in the week, up 17.33% compared with the same period last year.
Last week, the overall transaction focus of the domestic DME market moved downward. Although the market inventory position, the downstream demand followed slowly. At the same time, the crude oil price fell several times to a new low in the year, which depressed the mentality of the industry. Upstream shipment was the first, and the focus of individual enterprises' negotiations was lowered. The market in Henan is relatively strong, the offer of enterprises is stable, and the actual transaction price is loose.
The main reason for the weak market of raw material methanol is supply and demand. The operating rate of the production enterprises has increased, while the source of imported goods continues to arrive at the port, and the supply is abundant. However, the existing demand has not been significantly boosted. Liquefied gas, a related product, rebounded after falling, but the crude oil continued to fall in the future market, resulting in insufficient upward momentum. The market stopped rising and stabilized, increasing resistance to continue rising.
In general, the DME market is weak as a whole. Although the supply side remains stable, the cost side and demand side drag significantly. It is expected that China DME market will remain weak this week.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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