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SunSirs: China Methanol Prices Rose steadily in Mid August

September 01 2021 15:23:46     SunSirs (Selena)

In the first ten days of August, the methanol market continued to be dominated by the downturn in July. Affected by the unit maintenance of major manufacturers, the domestic methanol market price has increased steadily since mid August. According to the monitoring data of SunSirs, the average price of domestic methanol production enterprises in Shandong was 2,585 yuan / ton at the beginning of August and 2,615 yuan / ton at the end of the month. The price increased by 1.16% during the month and 61.17% year-on-year.

According to the price monitoring of SunSirs, in the list of commodity prices in August 2021, there were 59 kinds of commodities rising month on month in the chemical sector, including 29 kinds of commodities rising by more than 5%, accounting for 29.6% of the monitored commodities in the sector; The top three commodities were formic acid (48.35%), lithium carbonate (30.45%) and hydrochloric acid (29.41%). A total of 34 kinds of commodities decreased month on month, and 13 kinds of commodities decreased by more than 5%, accounting for 13.3% of the monitored commodities in this sector; The products with the first three declines were liquid ammonia (-21.16%), chloroform (-16.00%) and urea (-13.43%). The average rise and fall this month was 3.39%.

At the beginning of the month, the methanol market continued the consolidation trend in July. In the middle of the month, some enterprises were overhauled, resulting in low inventory in the mainland, tight supply and increased orders. Recently, the domestic methanol market has risen in a narrow range. Near the end of the month, after the introduction of new prices in the main producing areas of Shaanxi and Mongolia, stimulated by the rising limit of thermal coal and the breakthrough of the main futures contract MA of 2,920 yuan / ton, the overall sales situation of the domestic methanol market was fair, and the market price rose in a narrow range.

In terms of external market, as of the closing on August 30, the closing price of CFR Southeast Asia methanol market was $389.00-390.00/ ton. The closing price of US Gulf methanol market was 130.00-131.00 cents/ gallon; The FOB Rotterdam methanol market was closed.

In the future, in September, the coal price may still support the methanol production cost, and pay attention to the impact of the National Games, the Mid Autumn Festival and the National Day holiday on logistics and downstream procurement. In terms of fundamentals, the supply side is relatively abundant, and the marginal expectation of demand increases. SunSirs methanol analysts expect that China domestic methanol market will still rise in the short term.

 

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