According to the Commodity Market Analysis System of SunSirs, from August 15th to 22nd (as of 15:00), the domestic methanol market in East China port quotations fell from 2,330 RMB/ton to around 2,295 RMB/ton, with a price drop of 1.47% during the period, a month on month drop of 6.29%, and a year-on-year drop of 7.49%. The recovery of domestic methanol facilities has led to a slight lack of support in the mainland market, resulting in poor purchasing power at high prices.

As of the close on August 22nd, the closing price of methanol futures on Zhengzhou Commodity Exchange has fallen. The main contract for methanol futures, 2601, opened at 2,421 RMB/ton, with a highest price of 2,425 RMB/ton and a lowest price of 2,398 RMB/ton. It closed at 2,405 RMB/ton in the closing session, a decrease of 14 RMB or 0.58% from the previous trading day's settlement. The trading volume is 377,483 lots, with a position of 698,146 and a daily increase of 17,912.

On the cost side, the digestion speed of raw coal inventory has slowed down, demand expectations are currently unclear, market prices are strong, and cost support is strong. The cost of methanol is influenced by favorable factors.

On the demand side, glacial acetic acid: The market for glacial acetic acid is experiencing a partial upward trend. Formaldehyde: Market segmentation of formaldehyde. Raw material methanol continues to weaken, with inadequate cost support. Dimethyl ether: The dimethyl ether market continues to remain stable. Due to the reduction of downstream types, market demand is difficult to have strong support. Most downstream products are affected by methanol prices, and the impact on methanol demand is mixed.

Supply side, maintenance of equipment in Hebei Jinshi, Yunnan Jiehua, Guizhou Chitianhua, and Chongqing Wanlilai; Shanxi Lubao and Hualu Hengsheng facilities have been restored. The overall recovery exceeds the loss, resulting in an increase in capacity utilization. Negative factors affecting the methanol supply side.

In terms of external markets, as of the close of August 21st, the CFR Southeast Asian methanol market closed at $321.5-322.5 per ton. FOB US Gulf methanol market closing price of 95-96 cents/gallon; The closing price of the European FOB Rotterdam methanol market is 283.5-284.5 euros/ton, up 8 euros/ton.

In the future, the market is expected to see an improvement in transactions supported by external olefin procurement, but the sustainability of demand remains to be observed, and the short-term trend may maintain a volatile consolidation pattern. The methanol analyst from SunSirs predicts that the domestic methanol spot market will mainly consolidate.

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