SunSirs: China Methanol Market is in Consolidation
July 29 2021 14:08:53 SunSirs (Selena)
Upstream enterprises have different shipments and traders are unstable. Most underground tourism enterprises such as Lubei purchase on demand. Crude oil fluctuates and coal prices are strong. Recently, the domestic methanol market has been stable. According to the monitoring of SunSirs, as of July 27, the average price of domestic methanol production enterprises in Shandong was 2,585 RMB/ ton, with a month on month increase of 2.17% and a year-on-year increase of 59.32%.
The methanol market in major regions in China is dominated by sorting, the downstream receiving is limited, the negotiation atmosphere is general, the shipment of production enterprises is stable, and the downstream purchases on demand. The spot transaction of methanol in the port area is light. Although delivery has been resumed in Taicang and Zhangjiagang reservoir areas, spot gas buying is still light because some expressways are still restricted.
Downstream, the formaldehyde market fell steadily. The market price of DME returned to stable operation, some regions adjusted themselves, and the trading atmosphere was acceptable. The mainstream of domestic acetic acid market is stable. Recently, the market continues to be stable, and the market trading atmosphere is smooth.
In terms of external market, as of the closing on July 27, the closing price of CFR Southeast Asia methanol market was $385.00-386.00/ ton. The closing price of US Gulf methanol market is 115.00-116.00 cents/ gallon; The closing price of FOB Rotterdam methanol market was 342.00-343.00 euros/ ton, up 2 euros/ ton.
SunSirs methanol analysts expect that the short-term methanol market may be dominated by consolidation.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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