SunSirs: China Methanol Market Rebounds in a Narrow Range
January 13 2021 10:25:29 SunSirs (Selena)
Recently, China domestic methanol market has rebounded in a narrow range. According to the monitoring data of SunSirs, as of January 12, the average price of methanol producers in Shandong was 2,327 yuan / ton. After the New Year Holidays, the price rose 0.76%, 9.27% month on month and 5.44% year on year. Higher freight, higher costs for traders, domestic methanol spot market is relatively strong.
In terms of upstream and downstream, the domestic formaldehyde market rose steadily; the domestic DME market price fell in a narrow range, the low turnover was moderate, and the high turnover was not smooth; the decline of domestic acetic acid coastal cities slowed down, and the decline of manufacturers in inland areas continued; the MTBE Market rose again, with an increase of 100-150 yuan / ton. The impact on methanol market is different.
In terms of external market, as of January 11, the closing price of methanol in CFR China was $309.50-310.50 US/ ton, and that in CFR Southeast Asia was $379.50-380.50/ ton. US Gulf methanol closed at 109.75-110.25 Cents/ gallon, down 3 Cents/ gallon; FOB Rotterdam methanol closed at 322.00-323.00 Euros/ ton, down 6 Euros/ ton.
In the future, the price rebound of methanol market is small, the downstream acceptance intention is not strong, and the futures fluctuate in a narrow range. SunSirs methanol analysts expect short-term China domestic methanol market will be consolidated.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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