On May 2nd, the benchmark price of methanol for SunSirs was 2423.33 RMB/ton, which was the same as at the beginning of this month.
The domestic methanol market in April was like a "roller coaster". From April 1st to 28th (as of 15:00 in the afternoon), the average price of the East China port in the domestic methanol market dropped from 2561 yuan/ton to 2423 yuan/ton. During the cycle, the price fell by 5.40%, with a maximum amplitude of 7.08%, and the price fell by 11.72% year-on-year.
At the beginning of the month, the raw material coal market was sluggish, with a lack of positive cost support. At the same time, the spot buying performance was weak, and the methanol market was in a slump. In the first ten days of this month, the spring inspection was gradually advancing, and the supply side was positive. There were signs of slow recovery in demand, and the methanol market rebounded.
In mid month, the price of raw coal decreased and cost support was weak. However, the current market circulation is low, and it coincides with the May Day downstream stocking. The market buying and selling atmosphere is good, and the methanol market continues to rise.
In the latter half of the month, the focus of the methanol market fell, and with the end of replenishment in mainland China and the expectation of supply recovery, the trade mentality was weak, and the methanol market situation ended in a downward trend.
In the future, it is expected that cost support may be limited, supply is relatively abundant, and demand changes are not significant. The domestic methanol market is mainly weak and organized.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.