SunSirs: Sorting Out the Weak Situation of China Domestic Methanol Market

The recent weakness of the domestic methanol market is mainly due to the low demand and general trading atmosphere. At the same time, the supply is relatively abundant, and the contradiction between supply and demand is still an important factor restricting the development of the methanol market. The short-term methanol market or the weak situation is dominated.

According to the monitoring data of SunSirs, the average price of East China ports in the domestic methanol market fell from 2,824 RMB/ ton to 2,799 RMB/ ton from November 8 to 15. During the cycle, the price fell 0.88%, 2.21% month on month and 7.92% year on year.

According to the monitoring data of SunSirs, the average price of domestic methanol production enterprises fell from 2,900 RMB/ ton to 2,823 RMB/ ton from November 8 to 15. During the cycle, the price fell by 2.64%, 4.27% month on month and 7.13% year on year.

As of the closing on November 15, methanol in Zhengzhou Commodity Exchange rose in shock. The main methanol futures contract 2301 opened at 2,565 RMB/ ton, the highest price was 2,610 RMB/ ton, the lowest price was 2551 RMB/ ton, and the closing price was 2,594 RMB/ ton, up 32, or 1.25%, from the previous trading day. The trading volume was 1,580,449 hands, the position volume was 1,012,052 hands, and the daily increase was 29,629 hands.

The price of products in the methanol industry chain rose and fell, the price of natural gas in the upstream of methanol was stable, the price of coal fell, and the cost of methanol was generally supported; In the downstream products, the price of methane chloride in Shandong Province dropped the most.

In terms of external market, as of the closing on November 14, the closing price of CFR Southeast Asia methanol market was 364.50-365.50 USD/ton. US Gulf Methanol Market closed at 96.75-97.75 cents/gallon; FOB Rotterdam methanol market closed at 323.25-324.25 euros/ton, down 2.75 euros/ton.

There is abundant supply and little change in demand. The transportation in some areas is not smooth. SunSirs methanol analysts predict that China domestic methanol market may be weak in the short term.

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