According to the monitoring data of SunSirs, the spot price of domestic methanol on September 23 was 3,287 RMB/ ton, up 4.37% from the previous working day.
On September 23, methanol futures in Zhengzhou Commodity Exchange ended higher in shock. The main contract MA2201 closed at 3,262 RMB/ ton at the end of the trading day, up 152 RMB/ ton or 4.89% compared with the closing of the previous trading day. The main contract of coal futures broke through the 1,200 RMB/ ton mark, and the methanol cost support was obvious. In terms of spot goods, upstream enterprises have few sources of goods, low inventory, strong mentality, and traders operate with caution. Before the National Day holidays, most downstream enterprises purchase on demand and prepare goods appropriately.
China domestic methanol market may continue to rise in the short term.
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