In early February 2026, the domestic dimethyl carbonate (DMC) market ended its previous weak performance and showed a narrow, moderately strong trend. According to monitoring by the Business Society Commodity Market Analysis System, as of February 6, the average price of industrial-grade DMC in China was 3,800 yuan per ton, an increase of 1.33% compared to the beginning of the month. The main drivers of the market's rise were concentrated pre-holiday stocking by downstream industries and proactive price support strategies by manufacturers.

Breakdown of the Reasons for the Increase

• Short-term Supply Contraction: Some production units underwent maintenance, leading to no significant increase in spot supply and periodic tightening of available stock. Some manufacturers prioritized scheduled deliveries, limiting spot circulation and alleviating oversupply pressure. However, in the long term, the continuous release of new production capacity is expected to increase market supply.
• Pre-Holiday Demand Effect: As the Spring Festival approached, downstream industries mostly made purchases based on immediate needs, conducting essential stocking. However, overall demand lacked strong momentum for substantial growth.
• Proactive Price Adjustments by Manufacturers: Leading producers such as Shandong Hualu Hengsheng raised their ex-factory listed prices by 100 yuan per ton, directly fueling market optimism.
• Cost Support at the Bottom: The prices of key raw materials, propylene oxide (PO) and methanol, both declined in early February. While this alleviated cost pressures, it also weakened the upward push on DMC prices from the cost side. On February 6, the Business Society benchmark price for propylene oxide was 8,000 yuan per ton, down 2.44% from the beginning of the month, while the benchmark price for methanol was 2,200 yuan per ton, down 2.87% from the beginning of the month.

Overall Outlook
In the short term, the market may enter a phase of consolidation. Before the Spring Festival, supported by essential stocking and manufacturers' price support strategies, downside risks are limited, and prices are expected to remain stable. However, there is no strong foundation for sustained significant increases. For long-term trends, close attention should be paid to the progress of new capacity releases and the recovery of genuine downstream demand.