On September 1, methanol futures in Zhengzhou Commodity Exchange fluctuated strongly. The main contract MA2201 closed at 2,844 RMB/ ton, up 40 RMB/ ton or 1.43% compared with the closing of the previous trading day. According to the monitoring data of SunSirs, on September 1, the average price of domestic methanol production enterprises in Shandong was 2,615 RMB/ ton, with the weekly price rising by 1.16% month on month and 60.43% year-on-year.
Crude oil fluctuates in a narrow range, coal prices are strong, and methanol futures fluctuate in a narrow range. In terms of methanol spot market, traders operate cautiously, and some downstream purchase on demand. Some production enterprises in the main production area of Northwest China lowered their factory quotation of about 20-30 RMB/ ton this week, and most mainland production enterprises followed the decline. Market prices in various regions are mostly stable and narrow, and the transaction atmosphere is weak.
In terms of external market, as of August 31, the closing price of CFR Southeast Asia methanol market was $389.00-390.00/ ton. US Gulf methanol market closed at 131.00-132.00 cents/ gallon, up 1 cents/ gallon; The FOB Rotterdam methanol market is closed.
At present, the upstream coal price forms a positive support for methanol, but the demand is relatively rigid. In the short term, SunSirs methanol analysts expect that the domestic methanol spot market will be mainly sorted out.
