The downstream demand is weak. In the recent week, the domestic methanol market fell. According to the monitoring of SunSirs, the domestic methanol market price was 24,62 RMB/ ton on March 10, and 2,327 RMB/ ton on March 19, with a decrease of 5.48% in the cycle. The price increased by 2.87% on a month on month basis, with a year-on-year increase of 30.76%. At present, the mentality of the industry is acceptable, and there are great expectations for the spring inspection to pull up the market.
In the downstream, the formaldehyde market rose and fell last week, with slightly different buying and selling atmosphere in different regions. On Tuesday, the methyl ether market fell back after rising, and the market transaction atmosphere was general. Last week, the domestic acetic acid market fell regionally, the East China and South China markets declined, and the North China market was temporarily stable.
In the external market, as of March 18, the closing price of CFR China methanol was $297.00-298.00/ ton, down $3/ ton; CFR Southeast Asia methanol was $369.50-370.50/ ton. US Gulf methanol closed at 118.00-119.00 cents/ gallon, while FOB Rotterdam methanol closed at 318.00-319.00 euros/ ton, down 1 euro/ ton.
In the future, on the supply side, as the spring overhaul is approaching, the overhaul plans of methanol enterprises in the mainland are coming out one after another; some downstream units are recovering one after another, and the demand for methanol is rising slowly. SunSirs methanol analysts expect that China domestic methanol market in the short term consolidation.
