In the global market, the prices of Dimethyl witnessed a bearish outlook in the month of November. The global market conditions were determined by various factors including raw material cost, supply and demand conditions, inventory levels and so on. The fluctuations in the crude oil market also influenced the global market dynamics for Dimethylformamide.

In the Asia region, especially in China, the prices of Dimethylformamide remained stable in the week ending on 6th December 2024. The prices were assessed at USD 543/MT FOB Nanjing China. While the prices remained stable in comparison to the previous week, the overall market outlook was bearish. The bearish outlook in the market was primarily driven by gradual decline in the downstream demand. Dimethylformamide is primarily used in the production of pesticides and herbicides and in the production of active pharmaceutical ingredients. The pesticides and herbicides market remained under slight pressure as the sales growth is less than expected due to price drag. Despite the price drag, the export volumes have increased. China’s domestic winter reserve demand showed wait and see attitude while North American buyers continued to place orders as prices were low. As a result, the pesticides and herbicides market witnessed somewhat stable trading activities which contributed to the overall market trend of Dimethylformamide.

In the European market, the prices of Dimethylformamide also remained stable with cautious demand fundamentals. As the demand from key downstream sectors like agrochemicals and pharmaceutical industry remained subdued, the prices didn’t show any major fluctuations in the market. The European market observed cautious demand dynamics while inventory levels remained sufficient to meet the current demand. The presence of ample inventory levels of Dimethylformamide also played a major role in maintaining the price stability in the market. The supply levels continued to be moderate and ample while demand from the major end-user industries remained subdued. The ongoing economic struggles within the industrial landscape have led to a cautious approach among the consumers. The cautious market sentiment has contributed to stable pricing but the underlying concerns about demand growth remained.

Looking further, the prices of Dimethylformamide is expected to further decline steadily due to the current market conditions of the downstream sectors. The demand fundamentals of Dimethylformamide are not expected to show any growth soon which may push the prices in the upward direction. According to the analysts at ChemAnalyst, unless there is a notable recovery in demand from downstream sectors, decline in inventory levels or changes in economic conditions, the Dimethylformamide market may continue to show subdued activity.