Price trend

According to the bulk data monitoring of SunSirs, as of February 10, Zhejiang Province 5,450 RMB/ton, Guangdong Province 5,700 RMB/ton, Jiangsu Province 5,375 RMB/ton, Luxi Chemical Industry 4,900 RMB/ton, Hualu Hengsheng 5,300 RMB/ton, Zhangqiu daily 5,050 RMB/ton. Affected by the coronavirus epidemic, the market transactions in each region were general, and the logistics and transportation were severely restricted.

Analysis review   

Product: During the narrow consolidation of the domestic DMF market, factories generally reduced production and reduced load operations. Some factories continued to stop, and early orders were waiting to be delivered. New orders were scheduled to be delivered. Waiting for the slow recovery of logistics and transportation, the wait-and-see mood of the industry is still strong, and the delays range from end to end , The market is sporadic inquiries, trading atmosphere is limited.

Industry chain: With the extension of the Spring Festival holiday, most of the methanol production enterprises have suspended the offer. On the one hand, the downstream of methanol will enter the off-season of consumption. For example, formaldehyde and acetic acid enterprises will be stopped one after another, and the downstream emerging olefin production enterprises will also enter the maintenance one after another. In addition, the impact of the current epidemic will enter the off-market state in advance, and the willingness to purchase raw materials will be weakened. On the other hand, in terms of domestic import, in February 2020, the source of imported goods will be reduced to around 700,000-75,000 tons, 200,000 tons less than 900000 tons in January, and nearly 500,000 tons less than 1,193,400 tons in December. In the case of weak supply and demand, methanol has limited space to fall in the future.

Market outlook

DMF analysts believe that: in the near future, the domestic DMF market has no market price and maintains a weak and stable operation.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.