Dimethylformamide Value Remains Consistent In China Market

Shanghai, China: The price of Dimethylformamide (DMF) remains stable in China market, supported by the smooth transaction atmosphere and weakening feedstock value. Methanol, one of the feedstocks of Dimethylformamide (DMF), prices have declined in the Chinese market as demand for the product slumps alongside sufficient inventories. At the same time, downstream industries maintained on-demand replenishment, and the need for solvents from the chemical &Textile industries faded in the considered time frame.

Last week, Dimethylamine price had decreased, and the supply of the good was steady. However, Dimethylamine and Carbon mono-oxide markets explicitly support the recent decrease in methanol prices. As a result, downstream acrylic filaments, plastic, synthetic leathers, films, and surface coating industries' operating rates and actual demand are also lowering. Trade sources said producers were mulling over lowering operating rates which would reduce ample supply, but lowering the operating rate can even lead to the higher production cost quoted by the company sources in China. Furthermore, Piling inventories were indicative of a demand slowdown from the acrylic fibers and plastics sector and low offtake volumes that created selling pressure for Chinese exporters.

On 19th July 2022, Dimethylformamide (DMF) quotation according to significant manufacturers decreased and has now stabilized at the same price as the previous trading day. According to Jinan Qichen Chemical Co., Ltd., the price of Dimethylformamide (DMF) was USD 1881/MT, Shandong Zhiying New Material Co., Ltd., Jinan Hengtong Chemical Co., Ltd., and Jinan Jutai Chemical Co., Ltd. quoted at USD 1585/MT. The Dimethylformamide (DMF) price of Shandong Chengze Chemical Co., Ltd. was USD 1600/MT.

Thus, considering the weaker market sentiments, an Analyst of ChemAnalyst predicted that "The price of Dimethylformamide (DMF) may showcase stability in its range owing to the sufficient inventories and lowering cost pressure from its feedstock Dimethylamine and Carbon Monoxide market. Further, feedstock Methanol is also expected to decline in the forthcoming weeks.