SunSirs: The DMF Market Was Operating Steadily and Slightly Stronger, with Weak Upward Momentum

https://www.chemnet.com   Nov 22,2023 SunSirs

　　Price trend

　　According to data monitored by SunSirs, as of November 21st, the average price of domestic premium DMF quoted by DMF enterprises was 4,725 RMB/ton. Recently, DMF prices had remained stable and stronger, with prices rising by 1.34% compared to the same period last week. As of November 21st, the mainstream price was around 4,700 RMB/ton.

　　Analysis review

　　Recently, the overall market price of DMF had shown an upward trend, with a price increase of 1.34% compared to the same period last week. As of November 21st, the mainstream price range was 4,700.00 RMB/ton, and the upstream methanol trend was weaker, with weak support from the DMF cost side. Methanol had shown a downward trend this week, lacking positive support. The downstream procurement atmosphere was still good, and procurement was positive. As of November 21st, manufacturers had smooth shipments, and they had given up profits for sales. However, the momentum for the later rise is insufficient, mainly focusing on stable operation.

　　Chemical Index: On November 20th, the chemical index stood at 867 points, an increase of 1 point compared to the previous day, a decrease of 38.07% from the cycle's highest point of 1,400 points (2021-10-23), and an increase of 44.98% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to the period from December 1st, 2011 to the present).

　　Market outlook

　　DMF analysts from SunSirs believe that the trend of upstream methanol was weaker, with insufficient support on the cost side. The downstream procurement atmosphere was average, with on-demand replenishment being the main focus. DMF lacks momentum for later growth and mainly maintains stable operation.

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