On the cost side, the coal market strongly drives the expectation of methanol futures market. At the same time, the macro side is good, and the methanol futures market is still bullish for a short time under the background of product fundamental preference. At the same time, the methanol spot market is rising slowly. According to the monitoring of SunSirs, as of May 12, the average price of domestic methanol manufacturers in Shandong was 2,625 yuan / ton, with a month on month rise of 11.68% and a year-on-year rise of 23.32%.
In terms of methanol spot market, the new prices of production enterprises in the main production areas of Northwest China were significantly increased to drive the market, while the production enterprises in the inland areas were gradually rising. At present, the social inventory of methanol market is fair, and the price of downstream products is up and down. Most enterprises purchase on demand.
Downstream, the formaldehyde market rose steadily, the market trading atmosphere is fair. The market price of DME went up in a wide range, and the market transaction atmosphere was acceptable. The weakness of domestic acetic acid market continued. The recent competition among spot manufacturers is more obvious, which has pushed the market negotiation prices down one after another. MTBE market in the North continued to decline slightly, while the South remained stable.
In the external market, as of May 11, CFR China methanol closed at $301.50-302.50/ ton, up $1.5/ ton; CFR Southeast Asia methanol was $354.00-355.00/ ton, down $5/ ton. US Gulf methanol closed at 114.50-115.50 cents/ gallon; FOB Rotterdam methanol closed at 307.00-308.00 euro/ ton, down 1 euro/ ton.
In the near future, methanol futures are greatly affected by steam coal futures. At present, the methanol market is basically good. SunSirs methanol analysts expect that the spot market of short-term methanol market is general in China.
