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SunSirs: China Methanol Market was Stable
January 27 2021 11:14:41SunSirs(Selena)

Recently, China domestic methanol market is mainly stable. According to the monitoring data of SunSirs, as of January 25, the average price of methanol producers in Shandong was 2,335 RMB/ ton. The price increased 1.08%, and decreased 0.85% on a month on month basis, and increased 4.12% on a year-on-year basis. Higher freight, higher costs for traders, domestic methanol spot market is relatively strong.

In terms of upstream and downstream, the domestic formaldehyde market was mainly stabilized, with a wide decline in some areas; the DME market continued to be weak, the market negotiation declined, and the transaction was slightly light; the regional rise of the domestic acetic acid market continued. The spot market is still tight, and most of the downstream devices remain in operation during the Spring Festival; the general trend of MTBE market tends to be stable, with only a slight decline in Shandong.

In terms of external market, as of January 25, the closing price of methanol in CFR China was $309.50-310.50/ ton, while that in CFR Southeast Asia was $384.50-385.50/ ton. US Gulf methanol closed at 106.25-106.75 Cents/ gallon, while FOB Rotterdam methanol closed at 325.00-326.00 Euros/ ton, up 3 Euros/ ton.

In the future, the freight will not be reduced, the cost of traders will not be low, the enthusiasm of downstream procurement will not be high and some downstream such as formaldehyde enterprises will stop for holidays, with limited support from the demand side. SunSirs methanol analysts expect that China domestic methanol market will be in consolidation in the short term.

 

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