1、 Price trend
According to the Commodity Market Analysis System of Shengyi Society, as of November 12th, the average quotation price of domestic high-quality DMF enterprises is 4000 yuan/ton. Currently, the DMF market is mainly operating weakly, with insufficient driving force for price increases. The market supply is sufficient, with downstream essential procurement as the main focus, limited number of new customers, and mainly contract customers.
2、 Cause analysis
Market wise: Currently, the DMF market is facing a situation of oversupply. Since November, DMF prices have mainly fluctuated in a narrow range. Demand has recovered slowly, with prices remaining at around 4000 yuan/ton. Overall market demand is weak, production capacity continues to be released, and manufacturers have generally reduced production to alleviate pressure.
Supply and demand relationship: Upstream methanol prices continue to decline, with prices operating in a narrow range. Methanol production capacity continues to expand, port inventory accumulates, downstream demand is insufficient, consumption is slow, and there is a risk of declining operating rates. Currently, the overall market sentiment is weak, and there is insufficient motivation for price increases.
3、 Future forecast
DMF analysts from Shengyi Society believe that in the short term, the DMF market is operating steadily with small fluctuations, and the market price increase is insufficient.