SunSirs: The Methanol Market Rose in a Narrow Range on January 3
January 05 2023 10:32:49 SunSirs (Selena)
According to the monitoring data of SunSirs, on January 3, the domestic methanol port in East China was 2,708 RMB/ton, 1.82% higher than the previous trading day, and 14.03% higher than the previous trading day. On January 3, the methanol futures of Zhengzhou Commodity Exchange rose. The main contract 2305 of methanol futures closed at 2,669 RMB/ton, up 64 or 2.46% from the previous trading day.
Methanol futures rose in shock, driving the domestic methanol spot market to perform well in the mainland. After the price of the production enterprises in the northwest of the main production area rose to more than 2,000 RMB/ton, Rongxin's auction continued to rise today, and now it has been sold to 2,070 RMB/ton for delivery. In terms of production enterprises, the market atmosphere has gradually improved. However, the domestic supply level of methanol may continue to maintain a high level, with no significant fluctuations in the short term. On the other hand, with the Spring Festival approaching, demand recovery, downstream goods preparation and orders have changed significantly.
Short term China domestic spot methanol market price will be narrow upward.
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