Last week (6.12-6.16), Henan DME market continued its downward trend, with a larger decline. According to the commodity market analysis system of the business community, the average price of DME in Henan market was 3,855 RMB/ton on June 12, 3,770 RMB/ton on June 16, a decline of 2.2% in the cycle, down 6.91% compared with the same period last year.
Last week, the DME market in Henan region experienced a significant decline, with prices noticeably declining. Due to the significant suppression of downstream demand and the rapid accumulation of upstream inventory, the upstream has significantly adjusted prices to stimulate sales. The surrounding markets have also fallen synchronously, while crude oil prices have slightly adjusted, and the prices of related liquefied gas products have fluctuated at the bottom, supporting weak news. Overall, the DME market is in a period of sluggish demand, with no significant positive boost, and prices are prone to decline but difficult to rise.
According to the Commodity Market Analysis System of the SunSirs, the raw material methanol market is weak and volatile, with sufficient market supply and weak demand, further weakening cost support.
Overall, the current DME market lacks guidance on positive news and has many negative factors. It is expected that the market for China DME will be mainly weak and decline in the short term.
