SunSirs: DMF Prices First Fell and Then Rose in August

https://www.chemnet.com   Aug 30,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, as of August 29th, the average quotation price of high-quality DMF from DMF enterprises in China was 4,050 RMB/ton. From early August to mid August, the overall market price of DMF showed a continuous downward trend. At the end of August, DMF prices quickly rebounded and rose sharply. The upstream liquid ammonia price rose sharply in August, which provided favorable support for DMF on the cost side. As of August 29th, the overall market was dominated by essential procurement. In early August, DMF enterprises saw an increase in equipment shutdowns and a reduction in supply. It is expected that DMF prices will continue to rise in the short term.

Analysis review

In terms of cost, the main upstream product of DMF, liquid ammonia, showed a significant upward trend in early August, with prices running at a high level. In addition, DMF enterprises conducted centralized maintenance of equipment in August, resulting in a decrease in on-site supply and a reduction in the supply side. The low inventory operation led to a narrow price increase. The positive support of upstream prices and the tight supply of on-site goods helped to continue the rise of DMF prices at the end of August. Recently, the upstream methanol market had been mainly strong, with obvious positive demand side effects. The on-site procurement atmosphere was good, and traders' willingness to hold goods had increased. In terms of ports, the overall market atmosphere was good.

On the demand side: In August, the overall DMF market was dominated by essential purchases, and traders were cautious in their purchases. The purchasing atmosphere was average, and this week, the DMF plant of Luxi Chemical reopened, resulting in an increase in on-site supply. Operators were adopting a cautious and wait-and-see attitude towards the future market.

Market outlook

DMF analysts from SunSirs believe that there was an increase in DMF unit maintenance in August, and prices continued to rise at the end of the month. With the gradual start of production by enterprises, the supply of DMF on site has become loose, and the overall market price increase space is limited.

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