The domestic methanol market fluctuated in a narrow range. According to the price monitoring of SunSirs, China domestic methanol market price was 1,627 RMB/ ton at the beginning of last week, which fell first and then rose during the week, and remained stable on the whole. The price increased by 1.40% compared with the same period last month, and decreased by 24.93% compared with the same period last year.

Last week, the domestic methanol market showed regional differences. Some units in Northwest China were shut down for maintenance, and methanol futures prices rose, but the overall trading atmosphere was general. In terms of inventory, port and inland inventories accumulated again last week, and the import volume remained at the level of million tons in the later period. It was hopeless to remove inventory in the short term. High inventory continued to suppress methanol prices. The demand side is mainly stable, in the short term, there is no obvious increase. The overall high inventory impact maintenance is good, and the domestic methanol market is in a volatile situation.

In terms of industrial chain, formaldehyde: the domestic formaldehyde market declined narrowly last week. During the week, the raw material methanol continued to decline in a narrow range, further tightening the cost of formaldehyde, the theoretical profit of the enterprise was meager, and formaldehyde enterprises ushered in the traditional off-season.

Acetic acid: domestic acetic acid market rose sharply last week. Manufacturers began a new round of contract delivery, the inventory is relatively low, downstream demand digestion is stable, acetic acid market is optimistic.

DME: China DME market was stable as a whole last week, and the price did not change significantly. The production and sales of DME enterprises in the main production areas of Henan Province were basically balanced last week, the price difference of gas ether was still small, and the terminal demand for dimethyl ether was general.

On the whole, methanol is constrained by high inventory, and supported by cost and crude oil. Methanol analysts of SunSirs expect that the domestic methanol market will maintain a narrow adjustment in the short term.

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