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SunSirs: China Domestic Methanol Market Fluctuates in a Weak Way
December 06 2022 10:25:53SunSirs(Selena)

The main reason for the weak domestic methanol market is supply and demand. The operating rate of the production enterprises has increased, while the source of imported goods has continued to arrive at the port and the supply is abundant. However, the existing demand has not been significantly boosted, and the short-term domestic methanol market is mainly weak.

According to the monitoring data of SunSirs, the average price of East China ports in the domestic methanol market fell from 2,751 RMB/ton to 2,670 RMB/ton from November 28 to December 5 (as of 15:00 p.m.). During the cycle, the price fell by 2.97%, 6.77% month on month and 1.64% year on year.

According to the monitoring data of SunSirs, from November 28 to December 5, the average price of domestic methanol producers fell from 2,786 RMB/ton to 2,643 RMB/ton. During the cycle, the price fell by 5.14%, 8.11% month on month and 4.14% year on year.

As of the closing on December 5, methanol in Zhengzhou Commodity Exchange fell. The main methanol futures contract 2301 opened at 2,597 RMB/ton, the highest price was 2,617 RMB/ton, the lowest price was 2,526 RMB/ton, and closed at 2,534 RMB/ton, down 41, or 1.5%, from the previous trading day. The trading volume was 1,933,718 hands, the position was 1,053,326 hands, and the daily increase was 99,873 hands.

In terms of devices, Sichuan Lutianhua, Shanxi Yueanda and one set of devices in Shanxi and Shaanxi were overhauled, and Pucheng Clean Energy, Jiangyou Wanli, Cangzhou China Railway, Shanghai Huayi, Jingmen Yingde, Shaanxi Runzhong (Changwu), Jinmei Tianyuan and Xintai Zhengda devices resumed production.

The price of products in the methanol industry chain rose and fell, the price of natural gas in the upstream of methanol was stable, the price of coal fell, and the support for methanol cost became weak; The price of methane chloride in Shandong Province dropped the most among downstream products; The price of urea in Shandong Province rose the most among related products.

In terms of external market, as of December 5, the closing price of CFR Southeast Asia methanol market was 356.50-357.50 dollars/ton. The US Gulf methanol market closed at 85.75-86.75 cents/gallon, down 3 cents/gallon; FOB Rotterdam methanol market closed at 292.50-293.50 euros/ton, up 3 euros/ton.

There is abundant supply with little change in demand. The transportation in some areas is not smooth. SunSirs methanol analysts predict that China domestic methanol market may be dominated by weak trend.

 

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

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