SunSirs: China Domestic Methanol Market Fluctuates in a Narrow Range
July 22 2020 09:51:58 SunSirs (Selena)
The domestic methanol market fluctuated in a narrow range. According to the price monitoring of SunSirs, the domestic methanol market price was 1,657 RMB/ ton at the beginning of last week, and 1,652 RMB/ ton at the weekend, with a decrease of 0.30% during the week. The price was 2.64% higher than that of the same period last month, and the price was 21.53% lower than that of the same period last year.
Last week, due to the centralized maintenance of domestic units, the operating load of enterprises was low, and the unexpected shutdown of overseas units continued to push up the domestic methanol market price; in the later part of the week, with the port inventory again accumulating, there was no hope of alleviating the high inventory problem, and the market's pursuit of rising mentality fell back, and the overall purchase was insufficient. In terms of demand, the traditional downstream gradually back to work, but it was still lower than the same period last year. Under the profit driven, the overall olefin operating level was at a high level, and there was no room for further growth. In addition, the inventory of some downstream enterprises was relatively high, limiting the growth of methanol demand.
In the later stage, port inventory will accumulate again, and high inventory will continue to suppress methanol price; in the early stage, some maintenance devices have been resumed and restarted, and the supply side is expected to increase in the near future; the inventory of some downstream enterprises is on the high side, and the downstream market is weak to catch up with the high price, and the overall transaction atmosphere turns weak. Methanol analysts of SunSirs predict that the domestic methanol market is likely to decline in the short term.
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