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SunSirs: China Methanol Market Continues to Rise

October 16 2020 10:19:23     SunSirs (Selena)

China domestic methanol market rose on October 14, some manufacturers continued to increase the ex-factory quotation, the price adjustment range within two days was about 50-100 RMB/ ton. According to the monitoring data of SunSirs, the average price of methanol producers in Shandong was 1,812 RMB/ ton on October 9, and 1,925 RMB/ ton on October 14, respectively, which increased by 6.21% in the price cycle, increased by 6.65% month on month, and decreased by 23.51% year on year. The methanol market quotation in various regions has also increased to varying degrees, especially in Shandong, Anhui and Fujian. The main factors of this price rise are the favorable futures, the maintenance of equipment in some regions, the low inventory, and the favorable influence of the recovery of downstream demand. In the short term, the positive factors will still remain for a period of time, traders are full of bullish mentality. SunSirs methanol analysts predict that China domestic methanol market will fluctuate at a high level in the short term.


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