SunSirs: Insufficient Demand, DMF Market Was Weakly Downward

https://www.chemnet.com   Jun 03,2024 SunSirs

Price trend

According to the analysis system of the commodity market of SunSirs, as of May 31st, the average price quoted by domestic premium DMF enterprises was 4,600 RMB/ton. In May, the DMF market price was mainly weak and downward, with the current mainstream price range in the market being around 4,600 RMB/ton. As of May 31st, the upstream cost support was average, and the downstream demand was average, with slow shipments. The overall market was temporarily dominated by supply-demand balance.

Analysis review

In terms of cost, the methanol market showed a narrowly stronger trend in May. In late May, the methanol market was weak and downward, with some units shutting down and insufficient demand follow-up. Downstream consumers were cautious and had a strong wait-and-see atmosphere.

Chemical index: On May 30th, the chemical index was 870 points, an increase of 1 point from the previous day, a decrease of 37.86% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 45.48% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to 2011-12-01 present).

Market outlook

In summary, there was temporarily some cost support and insufficient follow-up from downstream demand. It is expected to maintain the trend in the short term, with mainstream prices around 4,800-5,000 RMB/ton.

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