Price Trend
The domestic dimethyl ether market rose sharply this week. At the beginning of the week, the average domestic dimethyl ether (Henan) market price was 3055 yuan/ton, and the weekend average price was 3280 yuan/ton. Within the week, the price increased by 7.36%, which was 28.77% lower than the same period last year.
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II. Market Analysis
Product: Dimethyl ether (Henan) market prices rose this week. Up to July 26, there is no quotation for the parking overhaul of Shengxin plant in Yutai, Hebei and Qinyang, Henan. Henan Lankao Huitong dimethyl ether inventory is low, do not quote for the time being. Henan Yima Xinyuan dimethyl ether plant failure, do not quote for the time being. Hebei Jichun Chemical Co., Ltd.’s Dimethyl Ether ex-factory price is 3300 yuan/ton, Shandong Dezhou Shengdeyuan Co., Ltd.’s Dimethyl Ether ex-factory price is 3230 yuan/ton, Shandong Yuhuang dimethyl ether ex-factory price is 3320 yuan? The ex-factory price of dimethyl ether in Shanxi Orchid Science and Technology Venture Co., Ltd. is 3230 yuan per ton.
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Industry chain: The domestic methanol market continued to decline this week. At the beginning of the week, the average domestic methanol market price was 2100 yuan/ton. At the end of the week, it was reported as 2009 yuan/ton. Within the week, the price fell by 4.29%, 26.52% compared with the same period last year. The domestic liquefied petroleum gas (Shandong) market rose first and then declined this week. At the beginning of the week, the average price of the domestic liquefied petroleum gas market was 3810 yuan/ton, and at the end of the week, the average price was 3816.67 yuan/ton. Within the week, the increase was 0.18%, and the price fell 11.65% compared with the same period last year.
Around 17:45 on July 19, 2019, an explosion and ignition accident occurred in the C air separation unit of Yima Gasification Plant, Henan Gas (Group) Co., Ltd. The explosion did not involve the tank area of major hazards, and the production units had been shut down. The incident has had an impact on the dimethyl ether market. After the explosion, most of the four enterprises of Henan Medium Chemical Company have stopped, which has a great impact on the industry. Demand for dimethyl ether shrank in the hot summer and prices continued to slump, which caused the price of dimethyl ether, originally in the traditional off-season, to rise sharply. The market supply is decreasing, there are gaps in demand, grass-roots procurement is active, and the overall start-up rate is decreasing. At present, only a few enterprises start construction, manufacturers are more optimistic about the future market, a strong mentality, prices continue to rise substantially.
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Industry: According to the price monitoring of business associations, in the 29 th week (7.22-7.26) of 2019, there were 12 kinds of commodities rising annually in the energy sector, of which more than 5% increased, accounting for 6.3% of the monitored commodities in the sector; the first three commodities were dimethyl ether (7.36%), coke (3.24%) and gasoline (1.54%). There are two kinds of commodities falling in the ring ratio, methanol (-4.38%) and petroleum coke (-1.87%) respectively. This week’s average rise and fall was 0.72%.
3. Future Market Forecast
Dimethyl ether business analysts believe that the rise is mainly affected by the explosion in Yima, the market is still in the off-season demand, the cost of methanol and liquefied gas market trend is weak, poor performance, terminal demand sluggish, negative market mentality. Additionally, the lower reaches mainly consume pre-inventory, with poor enthusiasm for entering the market and more wait-and-see. In the short run, the market will return to rationality. In the long run, the market bottoming period has passed and prices are difficult to fall to a low level. It is expected that the market will fall first and then rise.