Price Trend

According to the price monitoring of SunSirs, the domestic methanol market was sorted out in a narrow range. As of February 26, the average price of the domestic methanol market was 2,022 RMB/ ton. Prices fell 9.81% month on month and 15.38% year on year.

Market Analysis

Products: the methanol market in North China is narrowed, the ex-factory prices of the upstream enterprises in Shandong vary, most of the enterprises implement the early-stage contracts, and the downstream goods are basically finished, with few market transactions; the methanol market in Shanxi Province is mainly stable, and most of the enterprises in Linfen and Jincheng are normal in terms of delivery and inventory reduction; the overall price in Hebei Province is generally closed, and the buyer mostly executes the early-stage contracts.

Industry chain: formaldehyde: weak operation of domestic formaldehyde market. Only a few large-scale formaldehyde enterprises started at low load, and most of them are still in the state of shutdown. The upstream methanol market is narrow, and the cost has no impact on the formaldehyde market for the time being. The downstream market is still not recovered, and the overall demand is difficult to improve.

Acetic acid: the domestic acetic acid market is stable for the time being. In the short term, downstream acetic acid purchasing continues to be rational. The situation of market supply exceeding demand is difficult to ease. However, the inventory pressure of some manufacturers is still obvious. Forced to fall in stages, pushing the deal down.

DME: the domestic market of DME has a general trading situation, and the price has no obvious change. At present, the decline of crude oil causes LPG price to keep pace with the drop, and the transaction situation is general, thus dragging down the delivery of dimethyl ether; in addition, the domestic replenishment has been basically completed, which leads to the reduction of demand, and the price of DME is mainly weak. The price of the main production area in Henan is 3,030-3,130 RMB/ ton.

Market Forecast

SunSirs view: although some of the upstream enterprises are temporarily able to ship this week, the downstream enterprises have not recovered significantly from the start-up, and the mentality of traders is different. The trend of public health events in overseas countries has intensified, the concerns of the industry have increased, and the peripheral areas such as crude oil have declined significantly. Methanol analysts of SunSirs predict that China's methanol market will decline in the short term.

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