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SunSirs: China Methanol Market Rose and Fell slightly in July

August 06 2020 10:15:20     SunSirs (Selena)

Domestic methanol market rose and fell slightly in July. According to the price monitoring of the SunSirs, the domestic methanol market price was 1,625 RMB/ ton at the beginning of the month and 1,640 RMB/ ton at the end of the month, with an increase of 0.92% during the month and a decrease of 16.75% compared with the same period last year.

In July, the methanol market continued to fluctuate. Although the market in the first ten days went up slightly, the market in the last ten days dropped rapidly and the previous low level. In the first ten days, affected by the centralized maintenance of methanol plant and low port inventory, the methanol market rebounded, and Inner Mongolia and other places rebounded to around 1,450 RMB/ ton. In the late ten days, with the recovery of methanol plants, the postponement of the start-up of olefin units in Luxi, Shandong Province, and the temporary shutdown of srbon, the market mentality turned weak and the price dropped rapidly.

In terms of industrial chain, in July, the domestic formaldehyde market fluctuated in a narrow range, the domestic acetic acid market rose sharply, and the price of DME market rose and fell.

At present, due to the historical low price of methanol, some methanol plants with backward process and high cost are shut down; most of the international methanol plants are stable, and the import volume is expected to remain high in August; the traditional downstream demand is general, and formaldehyde enters the traditional off-season. Under the premise of no inventory reduction, it is difficult for the methanol market to reach the bottom. At present, the supply of methanol market at home and abroad is increasing, while the demand is weakening, and the fundamentals of methanol supply exceeding demand are highlighted. Methanol analysts of SunSirs predict that China domestic methanol market will bottom again in August, and it is not ruled out that there is the possibility of falling below the new low.

 

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