SunSirs: The Rise and Stagnation, Entering The Domestic Methanol Market In April "Climbing Stairs"

SunSirs news, April 8

Rise and stagnation, entering the domestic methanol market in April "climbing stairs". According to the monitoring of SunSirs agency, as of April 8, the average price of domestic methanol production enterprises in Shandong was 2395 RMB / ton, with a month on month increase of 2.57% and a year-on-year increase of 39.65%. Some production enterprises in Northwest China have increased their ex factory quotations, as well as strong prices boosted by futures, the downstream just need to replenish after the festival, and the domestic methanol market rose in a narrow range. However, the good time is not long, the port's destocking and low price supply still impact the market. In addition, the downstream's acceptance capacity is limited, and the follow-up of the firm offer is insufficient, so the price rise is not sustainable.

Downstream side, the formaldehyde market fell steadily, the overall trading was good. The market price of dimethyl ether continued to rise, and the market transaction atmosphere was good. MTBE market is mainly stable and stable with limited fluctuation. The domestic acetic acid market continued to rise. The supply of goods in the market continues to be tight, spot manufacturers still choose to bid, and the situation pushes up the offer, there is no source of goods in the hands of traders, for the late market continues to be bullish mentality, the auction price was positively pushed up, pushing the overall market negotiation price up substantially.

In terms of external disk, As of the close of trading on April 7, CFR China methanol closing price 294.00-295.00 USD / ton; CFR Southeast Asia methanol 367.00-368.00 US dollars / ton, up 3 US dollars / ton. US Gulf methanol closed at 120.00-121.00 cents per gallon, while FOB Rotterdam methanol closed at 323.00-324.00 euros per ton, up 2 euros per ton.

In the future market, On the supply side, spring maintenance is approaching, maintenance plans for methanol enterprises in the mainland have been issued one after another; part of the downstream devices have been restored, and the demand for methanol has increased slowly. SunSirs analysts predict that, in the short term, the domestic methanol market is dominated by consolidation.

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