Recently, the domestic methanol market has recovered in a narrow range. According to the monitoring data of SunSirs, as of February 20, the average price of methanol producers in Shandong was 2,267 RMB/ ton, with a month on month decrease of 3.92% and a year-on-year increase of 14.09%. After the festival, the downstream enterprises replenish goods appropriately, the logistics is restored, and the freight is reduced. Domestic methanol market recovered slowly.
In terms of upstream and downstream, the market price of dimethyl ether rose steadily, and the market transaction continued to be moderate; the domestic acetic acid market rose as a whole, and the market gradually resumed normal trading.
In terms of external market, as of February 19, CFR China methanol closed at $302.00-303.00/ ton, down $3/ ton; CFR Southeast Asia methanol closed at $374.00-375.00/ ton, down $5.5/ ton. US Gulf methanol closed at 111.00-112.00 cents/ gallon, up 1 cent/ gallon; FOB Rotterdam methanol closed at 335.50-336.50 euros/ ton, up 5.5 euros/ ton.
In the future, traders' willingness to hold goods is not strong, they have to ship goods at high prices one after another, market buying remains just in demand, and transaction is weak. Affected by the impact of domestic delivery sources, spot traders often say that it is difficult to conclude a deal. SunSirs methanol analysts expect that China domestic methanol market in the short term consolidation.
