SunSirs: Narrow Fluctuation of China Domestic Methanol Market

The market in East China rebounded at a low level, and the transaction was fair. Futures stopped falling and rebounded, production facilities of major enterprises in some regions stopped, supply decreased, and market buying improved. The logistics in some regions is limited but the demand is weak, and the downstream receiving price is weak.

According to the monitoring data of SunSirs, the average price of East China ports in the domestic methanol market rose from 2,790 RMB/ ton to 2,828 RMB/ ton from October 31 to November 7. During the cycle, the price rose 1.36%, fell 6.12% month on month and 8.97% year on year.

As of the closing on November 7, methanol in Zhengzhou Commodity Exchange rose in shock. The main methanol futures contract 2,301 opened at 2,626 RMB/ ton, the highest price was 2,635 RMB/ ton, the lowest price was 2,573 RMB/ ton, and the closing price was 2,585 RMB/ ton, up 1 or 0.04% from the previous trading day. The trading volume was 1,464,941 hands, the position volume was 1,035,879 hands, and the daily position increase was -125,757 hands.

The price of products in the methanol industry chain rose and fell, the price of natural gas in the upstream product of methanol rose, the price of coal was stable, and the cost of methanol was well supported; In the downstream products, Shandong's formaldehyde price dropped the most; The price of urea in Shandong Province rose the most among related products.

In terms of external market, as of the closing of November 4, the closing price of CFR Southeast Asia methanol market was USD 367.50-368.50/ton. US Gulf Methanol Market closed at 98.75-99.75 cents/gallon; FOB Rotterdam methanol market closed at 340.00-341.00 euros/ton.

The prices of gas and coal are still strong, the supply is abundant, and the demand changes little. The transportation in some areas is not smooth. Methanol analysts of SunSirs predict that China domestic methanol market may be weak in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.