SunSirs: Weak Demand Restricted Methanol Market
July 22 2022 08:27:43 SunSirs (John)In terms of spot, according to the monitoring data of SunSirs, the average price of domestic methanol in East China port market on July 21 was 2404 RMB/ton, down 1.07% from the previous trading day. On the supply side, some major manufacturers had equipment maintenance, and some areas might have limited production. From the perspective of demand, downstream purchase was just based on demand mainly.
In terms of futures, methanol in Zhengzhou Commodity Exchange fell in shock. The MA2209 contract opened at 2,442 RMB/ton, the highest price was 2,470 RMB/ton, and the lowest price was 2,406 RMB/ton. It closed at 2,411 RMB/ton at the end of the session, down 24 RMB/ton from the previous day's closing price. As of closing, the MA2209 contract open interest was 1,104,400 lots, a decrease of 121,100 lots from the previous trading day.
In terms of external disk, CFR Southeast Asia methanol market was 360.00-361.00 US dollars/ton, up 1 US dollars/ton. The US Gulf methanol market closed at 111.50-112.00 cents/gallon, up 11.5 cents/gallon; FOB Rotterdam methanol market closed at 350.50-351.00 euros/ton, up 3 euros/ton.
There was no obvious fluctuation in the quotations of some production enterprises monitored by SunSirs.
The crude oil market fluctuated at the mid-high level, as well as the pull of equipment maintenance, which competed with the weak demand side. In the short term, the domestic methanol market was mainly organized.
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