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SunSirs: China Methanol Market Fell in a Narrow Range on August 17
August 18 2022 10:56:54SunSirs(Selena)

According to the monitoring data of SunSirs, on August 17, the domestic methanol in East China port was 2,425 RMB/ ton, down 1.34% from the previous trading day and 5.55% year-on-year. On August 17, the methanol futures of Zhengzhou Commodity Exchange fell narrowly. The main contract MA2209 closed at 2,415 RMB/ ton at the end of the trading day, down 42 RMB/ ton compared with the closing of the previous trading day.

Crude oil continued to decline sharply, and methanol futures fell in tandem. In terms of spot, although some regions have reduced the negative production of methanol units, which is expected to boost the supply in a short period of time, and some production enterprises have narrowly increased the ex factory quotation of about 20-30 RMB/ ton, the downstream demand continues to be sluggish, and the operating rate of the main downstream industries is generally low, so the demand for methanol procurement is maintained.

In the short term, the short-term China domestic methanol market is dominated by shock and consolidation.

 

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