The strong coal market on the cost side strongly pulled the methanol futures market expectations. At the same time, the macro positive, coupled with the product fundamentals of the preference background continues to rise, the short-term bullish sentiment in the methanol futures market is still strong. At the same time, the methanol spot market is rising slowly, according to the monitoring of the SunSirs, as of May 12, the average price of domestic methanol producers in Shandong was 2625 RMB/ton, with a month-on-month increase of 11.68% and a year-on-year increase of 23.32%.
In the methanol spot market, the new prices of producers in the main producing areas in northwest China have been raised substantially to drive the market, while those in inland areas have gradually followed. At present, the social inventory of the methanol market is acceptable, and the rise and fall of the price of downstream products are reflected. Enterprises mainly purchase according to demand.
Downstream, formaldehyde market stability has risen, the market trading atmosphere is acceptable. Dimethyl ether market prices wide upward, the market trading atmosphere can be. Domestic acetic acid market weakness continues. Spot manufacturers recently more obvious competition, promote the market to negotiate prices lower. MTBE market in the northern region continued to fall slightly, the south to keep the main stability.
In the external market, as of May 11, CFR China methanol closed at 301.50-302.50 USD/Ton, up 1.5 USD/Ton; CFR Southeast Asia methanol 354.00-355.00 USD/Ton, down 5 USD/Ton. US Gulf methanol closed at 114.50-115.50 Cents/Gal; FOB Rotterdam methanol closed at 307.00-308.00 Euro/Ton, down 1 Euro/Ton.
Recently, methanol futures are greatly influenced by thermal coal futures. At present, the basic situation of the methanol market is good. Methanol analysts of the business association predict that the short-term spot market quotation will mainly follow up slowly.
