According to the Commodity Market Analysis System of SunSirs, from November 17th to 24th (as of 3:00 pm), the average price of methanol in East China ports in the domestic market fluctuated weakly, with prices dropping from 2,490 RMB/ton to 2,400 RMB/ton. During the cycle, prices fell by 3.58%, a month on month decrease of 1.03%, and a year-on-year decrease of 13.82%. Coal prices are weak and cost support is insufficient. Although there is an expected reduction in imports in December, overall imports are still at a high level, and supply side pressure still exists.

As of the close on November 24th, the closing price of methanol futures on the Zhengzhou Commodity Exchange has risen. The main contract of methanol futures, 2401, opened at 2,359 RMB/ton, with a highest price of 2,398 RMB/ton and a lowest price of 2,353 RMB/ton. It closed at 2,392 RMB/ton at the end of the trading day, up 29% or 1.23% from the previous trading day's settlement. The trading volume was 969,552 lots, and the position was 1,017,185 lots, with a daily increase of 52,434.

In terms of cost and supply, the demand for coal in the market has not performed well, overall inventory remains high, seasonal replenishment efforts are limited, and there is a lack of upward support for pit prices. In the short term, it will continue to operate weakly and steadily. The cost side of methanol is influenced by bearish factors.

On the demand side, stable production in the acetic acid and MTBE industries; Downstream formaldehyde: The formaldehyde industry saw a significant decrease in operating rates due to the reduction of load on Shandong Hengying equipment and the shutdown of Puyang Pengxin equipment; Downstream Dimethyl Ether: The Dimethyl Ether Industry's Jiujiang Xinlian Dimethyl Ether Plant has been put into operation, and the industry's operating rate has increased. The demand for methanol is mixed.

On the supply side, maintenance of a set of equipment in Datang Duolun, Guangju New Materials, Inner Mongolia Jiuding, and Shanxi; Shanxi Tianze and Jiujiang Xinlianxin, as well as Shanxi and Heilongjiang each, have one set of equipment restored. The overall loss is greater than the recovery, resulting in a decrease in capacity utilization. The supply side of methanol is favorable and has a positive impact.

In terms of external trading, as of the close on November 23, the closing price of methanol in the CFR Southeast Asian methanol market was $350.00- $351.00 /ton. The US Gulf Methanol Market is closed for Thanksgiving; The closing price of the FOB Rotterdam methanol market is 337.75-338.75 euros/ton, up 5 euros/ton.

In the future market forecast, the total supply of methanol in the market is sufficient, and downstream areas have entered the traditional off-season. For methanol, the main demand is for purchasing and the price is significantly reduced. SunSirs Methanol Analyst predicts that the domestic methanol market is mainly weak and consolidating.

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