On June 15, the main closing price of methanol futures in Zhengzhou Commodity Exchange was 2514 RMB/ton, up 2.57% in the day. The atmosphere of the domestic methanol spot market is warming up. Before the festival, some traders make up for the air and the downstream goods to support the mentality of the industry. After the festival, the new prices in Northwest China may be relatively strong, and at present, they are generally bullish. According to the monitoring of SunSirs, as of June 15, the average price of domestic methanol production enterprises in Shandong was 2535 RMB/ton, with a month-on-month decrease of 7.06% and a year-on-year increase of 56.48%.

However, the maintenance plan of some methanol production enterprises is slightly delayed, the supply is relatively sufficient, and the social inventory is not good for the time being. In terms of downstream demand, the market of formaldehyde, dimethyl ether, and acetic acid is mainly on the wait-and-see basis, and there is no obvious positive pull for the moment. The price of MTBE is relatively good, crude oil continues to rise, and refined oil is about to open an upward window, which gives the market some psychological support and is expected to further push up the methanol market.

Summary of methanol market prices by Region as of June 15

In the downstream, the formaldehyde market was mixed; The market price of dimethyl ether declined as a whole, and the trading atmosphere was general; The domestic acetic acid market is still tight. The general trend of the MTBE market tends to be stable, with only a slight rise in some parts of the north, with an increase of 50 RMB/ton.

In terms of the external market, as of June 14, the closing price of CFR China methanol was 307.00-308.00 USD/ton; the CFR Southeast Asia methanol market closed at 352.00-353.0 USD/ton, down 2 USD/ton. The US Gulf methanol market closed at 108.00-109.00 cents per gallon, up 1.5 cents per gallon; FOB Rotterdam methanol market closed at 310.00-311.00 Euro/ton, down 2 Euro/ton.

Crude oil is strong and the market mentality is good. Methanol analysts of business news agencies expect that the domestic methanol market may continue to rise in a narrow range in the short term.

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