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SunSirs: Slow Recovery of China Methanol Market
February 26 2021 10:24:44SunSirs(Selena)

Recently, the domestic methanol market rebounded slowly. According to the monitoring data of SunSirs, as of February 25, the average price of methanol producers in Shandong was 2,282 RMB/ ton, with a month on month decrease of 2.25% and a year-on-year increase of 13.45%. After the festival, the downstream enterprises replenish goods appropriately, the logistics is restored, and the freight is reduced. Domestic methanol market recovered slowly.

In terms of upstream and downstream, DME market fell sharply, and trading was deadlocked; domestic acetic acid market was strong at a high level, and acetic acid price had been strong at a high level after continuous rise in the early stage; MTBE market was mainly stabilized and consolidation, with only slight adjustment in some regions.

In terms of external market, as of February 24, CFR China methanol closed at $304.00-305.00/ ton, up $1/ ton; CFR Southeast Asia methanol closed at $378.00-379.00/ ton, up $4/ ton. US Gulf methanol closed at 112.00-113.00 cents/ gallon, while FOB Rotterdam methanol closed at 342.50-343.50 euros/ ton, down 0.5 euro/ ton.

In the future, traders' willingness is not strong, market buying remains just in demand, and transaction is weak. SunSirs methanol analysts expect that China domestic methanol market is in consolidation in the short term.

 

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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