On May 13th, methanol futures on Zhengzhou Commodity Exchange consolidated high and closed at 2,755 RMB/ton, up 139 RMB/ton compared with the last trading day, up 5.31%. The methanol spot market is also rising. The main producing areas in northwest China drive the methanol spot price in other regions to continue to rise. The tight supply and demand of raw material coal pushes the cost of coal-to-methanol to rise. According to the monitoring of the SunSirs, as of May 13, the average price of domestic methanol producers in Shandong was 2680 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 ports have low inventories, traders have the mood of chasing up, and the downstream goods are cautious. The rise and fall of methanol downstream products are reflected: formaldehyde, dimethyl ether market rose, acetic acid, MTBE market mainly weak shock. In the short term, futures growth, low inventory will still lead the methanol market to continue to rise.
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. Domestic acetic acid market weakness continues. Spot manufacturers recently more obvious competition, promote the market to negotiate prices lower. TBE market is mainly stable, volatility is limited. Crude oil continues to rise, giving support to the market mentality, and after the recent low price, some downstream merchants replenish at low prices, and with the rise of other raw materials, the price difference between MTBE and alkylation and other raw materials has narrowed, and the sales pressure of northern merchants has been slightly reduced.
In the external market, as of May 12, CFR China methanol closed at 301.50-302.50 US dollars/ton, up 8 US dollars/ton; CFR Southeast Asia methanol 354.00-355.00 USD/ton. US Gulf methanol closed at 110.50-111.50 cents per gallon, down 2 cents per gallon; The closing price of methanol in FOB Rotterdam is 307.00-308.00 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.
