On May 13, the methanol futures of Zhengzhou Commodity Exchange finished high and closed at 2,755 RMB/ ton, up 139 RMB/ ton from the previous trading day, with the futures up 5.31%. The spot market of methanol is also rising. The main production areas in Northwest China drive the spot price of methanol in other regions to continue to rise. The supply and demand of raw coal is tight, which promotes the cost of coal to methanol. According to the monitoring of business news agency, as of May 13, the average price of domestic methanol production enterprises in Shandong was 2,680 RMB/ ton, with a month on month increase of 13.80% and a year-on-year increase of 54.91%.
At present, the main methanol production enterprises and port inventory is low, traders are in pursuit of rising sentiment, and downstream receiving is cautious. Methanol downstream products are reflected in the rise and fall: formaldehyde, dimethyl ether market rise, acetic acid, MTBE market weak shocks. In the short term, the rising trend of futures and low inventory will continue to dominate the methanol market.
On the downstream side, the formaldehyde market has been rising steadily. Upstream methanol futures trading impact, the cost continued to be high. Dimethyl ether Market offer continued to rise, trading atmosphere is good. 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 is mainly stable.
In the external market, as of May 12, CFR China methanol closed at $301.50-302.50/ ton, up $8/ ton; CFR Southeast Asia methanol was $354.00-355.00/ ton. US Gulf methanol closed at 110.50-111.50 cents/ gallon, down 2 cents/ gallon; The closing price of methanol in FOB Rotterdam was 307.00-308.00 euro/ ton.
In the near future, methanol futures are greatly affected by thermal coal futures. At present, the methanol market is basically good. SunSirs methanol analysts expect that the spot market of short-term methanol market will follow up the futures slowly.
