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SunSirs: China Domestic Methanol Market Fluctuates at a Low Level
August 17 2022 09:16:35SunSirs(Selena)

The domestic methanol market fluctuated at a low level, and the transaction was general. The manufacturer narrowly adjusts the external quotation, ranging from 20 to 50 RMB/ ton, which has little impact on the trade market.

According to the monitoring data of SunSirs, from August 8 to 15, the average price of domestic methanol market dropped from 2,555 RMB/ ton to 2,546 RMB/ ton, with a price drop of 0.33% in the cycle, a month on month increase of 3.24% and a year-on-year decrease of 1.00%.

As of the closing of August 15, methanol futures in Zhengzhou Commodity Exchange fluctuated narrowly. The opening price of MA2209 contract was 2,450 RMB/ ton, the highest price was 2,496 RMB/ ton, the lowest price was 2,435 RMB/ ton, and the closing price was 2,462 RMB/ ton, an increase of 5 RMB/ ton compared with the closing of the previous trading day. As of the closing, the position of MA2209 contract was 526,400 lots, a decrease of 121,100 lots compared with the previous trading day.

The price of products in the methanol industry chain fluctuated. The price of natural gas, the upstream product of methanol, was stable. The price of coal fell in a narrow range, and the support of methanol cost was weak; The price of downstream product Shandong methane chloride increased the most; Among the related products, the price of urea in Shandong dropped the most.

On the external market, as of the closing on August 12, the closing price of CFR Southeast Asia methanol market was 351.00-352.00 USD / ton, down by 1 USD / ton. The closing price of the US Gulf methanol market was 109.50-110.50 cents / gallon, down 1 cents / gallon; FOB Rotterdam methanol market closed at 363.25-364.25 euros / ton, up 0.25 euros / ton.

Crude oil is weak, supply is expected to increase, and demand changes are limited. The cost is supported or weakened, and there is a risk of inventory accumulation. SunSirs methanol analysts predicted that China domestic methanol market in the short term would be dominated by sluggish consolidation.

 

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

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