SunSirs: The Methanol Market Rose Slightly on July 20
July 21 2022 09:15:51 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the average price of methanol in the East China port market on July 20 was 2,430 RMB/ton, up 3.46% from the previous trading day. On July 20, the main domestic methanol futures contract M2209 closed at 2,435 RMB/ton in late trading, up 96 RMB/ton or 2.35% from the previous close.
Analysis review
Oil prices were relatively strong, and the major production company Yankuang Guohong was planning to overhaul its plant, which was expected to boost the methanol market on the supply side. The whole market mentality was firm to wait and see, but the supply side was still relatively abundant. From the demand side, the downstream was mainly based on just-needed procurement.
Market outlook
The domestic methanol market is mainly volatile and sorted in the short term.
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