China domestic methanol market rose slightly. According to the price monitoring of SunSirs, the domestic methanol market price was 1,635 RMB/ ton at the beginning of the week, and 1,657 RMB/ ton at the weekend, with an increase of 1.38% during the week. The price was 0.45% higher than that of the same period last month, and the price was 22.91% lower than that of the same period last year.
Last week, the performance of the mainland and port markets was different. Due to the strong performance of some equipment maintenance markets in Northwest China, manufacturers' inventory pressure was not great, and the futures prices went up, so the enterprise offers actively followed up. On the port side, after the spot price rose, the downstream companies were short of receiving high price goods. The demand side is affected by factors such as rainy season and stricter environmental protection, and the traditional downstream start-up is not as expected. Although the profit of MTO is fair, the start-up is still at a low level compared with the same period last year. Some manufacturers still have repair plan in July.
In terms of industrial chain, formaldehyde: the domestic formaldehyde market showed an upward trend last week. Mainly based on the strong pull up of upstream raw materials, the cost of purchasing raw materials of formaldehyde enterprises increased, the offer of formaldehyde enterprises passively followed up. The terminal demand side continued to be affected by high temperature and rain, and the starting load continued to be low. Therefore, the demand for formaldehyde did not increase significantly, and was not affected by the rising market of formaldehyde on the supply side.
Acetic acid: domestic acetic acid market rose sharply last week. At the beginning of the month, all manufacturers concentrated on delivery of contract sources, and the spot supply in the market was relatively tight. When Jiangsu Sopu and Shanghai Huayi units stopped at the end of last week, the acetic acid market lost 4,800 tons/ day. However, when the downstream demand was stable, the acetic acid market passively formed a situation of short supply. The inventory quantity of each manufacturer was low, which pushed up the price gradually.
DME: the domestic DME market continued to rise last week, and the transaction atmosphere improved. Among them, the main production areas in Henan Province showed a particularly obvious rise, with the prices of mainstream enterprises such as Baoma and Xinlianxin rising continuously, with an increase of 70 RMB/ ton during the week. At present, the inventory pressure of enterprises is generally not strong. Under the psychological influence of buying up and not buying down, the intention of terminal goods preparation is improved, and the overall transaction situation is active.
On the whole, methanol is constrained by high inventory, and supported by cost and crude oil. Methanol analysts of SunSirs expect that China domestic methanol market will maintain a narrow adjustment in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.