SunSirs: China Methanol Market is High Consolidation
July 22 2021 14:55:29 SunSirs (Selena)
With the approach of the long-term settlement day in Northwest China this month, freight rates continue to rise. With the strength of the upper reaches and the expectation of price increase in some regions, it is expected that the mainland market will remain in a high position. According to the monitoring of SunSirs, as of July 20, the average price of domestic methanol production enterprises in Shandong was 2,560 yuan / ton, with a month on month increase of 1.79% and a year-on-year increase of 56.57%.
The northwest methanol market continued to push up in some parts, and the ex factory quotations of some major manufacturers increased significantly, guiding manufacturers in other regions to quote, while some factories in the mainland may continue to raise their quotations. The rising freight also promoted the methanol market to a certain extent.
Downstream, the formaldehyde market rose broadly. The raw material methanol continues to show an upward trend, and the cost continues to rise. Dimethyl ether market prices continued to rise, the market trading atmosphere is good. Domestic acetic acid market atmosphere is weak, stable situation to ease the downstream for acetic acid wait-and-see mentality, mainly small market transactions.
In terms of external market, as of July 20, CFR Southeast Asia methanol market closed at $381.00-382.00/ ton. The US Gulf methanol market closed at 115.00-116.00 cents/ gallon; The closing price of FOB Rotterdam methanol market is 343.00-344.00 euro/ ton.
SunSirs methanol analysts expect that the short-term methanol market may be high consolidation in China.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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