SunSirs: DMF Market Slightly Rose (March 7-14)

https://www.chemnet.com   Mar 15,2024 SunSirs

　　According to data monitored by SunSirs, as of March 14th, the average price of premium DMF quoted by domestic DMF enterprises was 4,637.5 RMB/ton. This week, DMF prices had been operating in a narrow upward trend, with a price increase of 0.82% compared to the same period last week. As of March 14th, the mainstream price was around 4,700-4,800 RMB/ton. The overall market supply and demand was balanced, with enterprises mainly offering discounts for sales. Logistics was smooth, and the overall market operating rate was stable.

　　Analysis review

　　The overall market price of DMF had slightly increased this week, with a 0.82% increase compared to the same period last week. As of March 14th, the mainstream price range was 4,700-4,800 RMB/ton, and manufacturers were actively shipping. Recently, the upstream methanol trend had been strong and volatile, and the cost side had slight support for DMF. In the near future, it will mainly maintain stable and stronger operation. Downstream enterprises purchased just on demand, and the transaction atmosphere was slightly flat. The operating rate was stable, and logistics shipments were smooth. Latest quotation from the manufacturers: Qingdao Hefeng Chemical Co., Ltd. offered a price of 4,450 RMB/ton, Jinan Pulaihua Chemical Co., Ltd. offered a price of 4,800 RMB/ton, and Shandong Jinshengrun Chemical Co., Ltd. offered a price of 4,450 RMB/ton.

　　Chemical index: On March 13th, the chemical index was 860 points, unchanged from the previous day, a decrease of 38.57% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 43.81% from the lowest point of 598 points on April 8, 2020. (Note: The cycle refers to 2011-12-01 present).

　　Market outlook

　　SunSirs’DMF analysts believe that in the short term, the DMF market will maintain a stable and stronger operation, with strong support from upstream costs, and mainstream prices will be maintained at 4,700-4,800 RMB/ton.

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