SunSirs: Methanol Market was Weak Last Week
January 11 2021 11:00:32 SunSirs (Selena)
Last week, the domestic methanol market was mainly weak. According to the monitoring data of SunSirs, the average price of methanol producers in Shandong was 2,282 RMB/ ton at the beginning of the week, and 2,270 RMB/ ton at the end of the week. The price fell by 0.55% in the week, increased y 7.58% month on month, and increased 3.42% year on year.
Last week, the domestic methanol market performed generally, and the prices of the mainland and ports declined. The overall market situation of the mainland declined due to the shrinking olefin procurement in Northwest China and the weak demand in Hebei and Shandong. The blockade of some road sections affected the flow of goods in some areas of Inner Mongolia, Shaanxi and Shanxi, but the degree of impact was uncertain at present.
In terms of external market, as of January 7, the closing price of methanol in CFR China was $304.50-305.50/ ton, and that in CFR Southeast Asia was $369.50-370.50/ ton. US Gulf methanol closed at 113.75-114.25 Cents/ gallon, while FOB Rotterdam methanol closed at 343.50-344.50 Euros/ ton, down 3 Euros/ ton.
In the future, new units such as Yanchang Zhongmei Yulin and Shenhua Yulin are put into operation, the supply side is expected to increase, the downstream inventory is on the high side, and the overall demand is relatively limited. SunSirs methanol analysts expect that China domestic methanol market will be weak in the short term, mainly with a downward trend.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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