As of December 28, 2022, the DMF market has shown a volatile downward trend, with a decline of 21.14% throughout the year. The overall DMF market is weak, with insufficient demand, weak upstream support, and insufficient price upward momentum. The high point of DMF prices in 2023 was at the beginning of the year at 6150 yuan/ton, and the low point was in July at 4550 yuan/ton. The overall market supply and demand balance is the main factor.

In 2023, the DMF market experienced ups and downs. In January, there was a clear upward trend, followed by a subsequent decline in prices. The downward trend continued until July, when prices bottomed out and rebounded. From August to September, there was a clear upward trend, followed by a downward trend in prices. The overall transaction atmosphere of the DMF market in 2023 was poor, with a sluggish market and slow shipments, and most manufacturers operating under pressure. So, what is the trend in 2024? Will spring come?

DMF is an important industrial solvent widely used in industries such as synthetic fibers, plastics, films, textiles, paints, and coatings. It is also a commonly used hydrogenation reaction reagent and extractant, and has important applications in organic synthesis, drug synthesis, and electronics industries. Its use is very extensive and closely related to daily life. Since 2022-2023, the DMF market has been showing a weak downward trend, with slow economic recovery, Most manufacturers restock on demand and place orders cautiously. The overall market sentiment is insufficient, and enterprises are operating under pressure. The cost side is hovering, and prices continue to decline, but there is still no improvement. 2024 is approaching, and with the economic recovery, DMF is expected to break through the dull trend.

The overall trend of upstream methanol is similar to that of DMF. Overall, the price trend of DMF is closely related to methanol. Methanol showed a fluctuating downward trend in the first half of the year, but in the second half of the year, the price stopped falling and rebounded. As the end of the year approaches, the price showed a fluctuating operating trend. The trend of DMF in 2024 depends on the specific trend of upstream methanol and the increase in downstream demand.

In 2023, DMF experienced a volatile downward trend, with slight support from the cost side and insufficient demand from downstream customers, resulting in enormous pressure on DMF enterprises to operate under pressure throughout the year. Currently, prices are at a low level in recent years, and DMF prices are expected to rebound in 2024. With the recovery of the economy, people’s mentality has shifted from confusion and observation to full confidence, believing that DMF will have new vitality in 2024.