SunSirs: Energy, Good News, Methanol Market Continues Strong Trend

The domestic methanol market is mainly strong. According to the price monitoring of SunSirs, the average price of domestic methanol market on April 1 was 1,600 RMB/ ton, and the price of domestic methanol market on April 14 was 1,790 RMB/ ton, an increase of 11.80%. Compared with the same period last month, the price fell by 2.85% month on month and 27.00% year on year.

Market Analysis

Product: methanol market is higher, while port operation is weaker. At the beginning of the week, the northwest main production area operated at a high price, and some enterprises around the Bohai Sea had little inventory pressure, some enterprises around the Bohai Sea actively pushed up prices, and the overall trading atmosphere of the market was acceptable. However, at present, the downstream receiving sentiment in some regions is general, the demand side support is limited, and the operators are cautious in their operation attitude. In addition, today's futures are falling, and the wait-and-see sentiment in some markets dominates. On the port side, the futures are weak and volatile, the spot price of the port is weak, the regional buying is light, there is occasional demand for short covering, and the trading is slightly deadlocked.

Industry chain: formaldehyde: domestic formaldehyde market is rising steadily. Shandong Province is mostly stable; Hebei Province is up 10 RMB/ ton, the market is mainly wait-and-see; South China is up 50 RMB/ ton, the transaction is light. Although the market quotation has increased to varying degrees, it is mostly driven by the upstream methanol price, and the formaldehyde on-site trading atmosphere still continues the previous weak market. The downstream demand is limited, some enterprises are affected by safety inspection, and the load is running at a low level.

Acetic acid: the domestic acetic acid market is still rising. The low-end supply of goods in Shandong and Henan is up by offer. However, at present, the domestic acetic acid supply is sufficient. The downstream acetic acid purchase enters the digestion stage. The middlemen purchase rationally, and the new orders in the market are generally closed. The maintenance of Jiangsu Thorpe acetic acid plant is likely to be delayed, the inventory of each manufacturer is not low, and the acetic acid market has no obvious favorable support, so we will wait and see whether the downstream receiving situation can continue to provide support.

DME: the domestic DME market has a fair trading atmosphere, but the price changes little, and the market is more stable. At present, the transaction reference of Henan main production area is 2,600-2,750 RMB/ ton, the quotation of mainstream enterprises is stable, and other enterprises are mainly flexible to adjust.

Market Forecast

The methanol analysts of SunSirs predict that the short-term domestic methanol market may be dominated by narrow range shocks. In the later stage, we still need to pay attention to the external macro factors, the market entry mentality, the futures market trend, the upstream and downstream inventory and freight level.

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