In January, the overall focus of the domestic DME market moved up, and the Henan market actively pushed up, after which the price changed from rising to stable. According to the data monitoring of SunSirs, the average market price of DME in Henan was 4,450 RMB/ton on January 1 and 4,625 RMB/ton on January 29, with a monthly increase of 3.93%, up 22.54% from the same period last year.
In January, the domestic DME market rose steadily, with a slight increase in the Henan market. At the beginning of the month, the downstream stage replenishment began, the atmosphere of transaction on the market became stronger, and the low inventory of DME enterprises actively pushed up. Later, with the Spring Festival approaching, the downstream replenishment peak has passed and the price has stabilized. The market of liquefied petroleum gas (LPG), a related product, rose all the way in January, further boosting market confidence. During the Spring Festival, the market of DME remained stable, the demand and transport capacity gradually recovered after the festival, and the downstream followed up smoothly. The upstream inventory was not under pressure, and the manufacturers were willing to pay back prices. With the support of rising costs, the market of DME began to rise in some factories after the festival.
In general, the raw material methanol market rose significantly at the end of the month, and the support for DME was significantly enhanced in terms of cost. In terms of demand, downstream demand gradually recovered and followed up smoothly. In terms of supply, the on-site inventory is low, and the supply is relatively stable. Under the influence of various factors, the market of DME in Henan Province is expected to run steadily upward in the near future.
