China's DMF market shifted from a broadly bullish April into a late-month pullback, as robust end-use demand met intermittent supply frictions before easing at month-end. Early April saw firmer upstream dynamics and targeted buying from pharmaceutical and textile supply chains. Mid-month activity, boosted by increased binder-solvent dosing at a Sichuan lithium-ion gigafactory and larger synthetic-leather imports through Haiphong, provided additional support. By late April, however, participants scaled back short-term bids and speculative activity cooled, leaving sentiment steady-to-firmer but with a weekly correction in the closing week. Sector demand remained the primary price driver, with pharmaceuticals and agro-pharma providing the strongest pull as DMF continued to serve antibiotics, anti-tumor drug and pesticide-intermediate production. That resilient demand underpinned a notable month-on-month rise. The lithium-ion binder segment and Vietnamese synthetic-leather imports contributed incremental volumes, while upstream tightness in methanol and concentrated dimethylamine supported pricing power. Outlook suggests continued modest upward pressure into next week, tempered by regional stock coverage and potential feedstock relief.
