Last week, the methanol market fell significantly. The shipments of mainland enterprises were general, the inventory increased, traders waited and waited, the downstream demand entered the off-season, the coal price fell, and the methanol cost weakened.

According to the monitoring data of SunSirs, from December 17 to December 24, the average price of domestic methanol production enterprises fell from 2,632 RMB/ ton to 2,450 RMB/ ton. During the cycle, the price fell 6.93%, the price fell 11.92% month on month, and the year-on-year increase was 4.03%.

The price of methanol industrial chain products rose and fell, the coal price of methanol upstream products fell, the price of natural gas was stable, and the support for methanol cost was weak; Among downstream products, the price of methane chloride in Shandong increased the most; Among related products, Shandong ethylene glycol has the largest price increase.

In terms of external market, as of the closing on December 16, the closing price of CFR Southeast Asia methanol market was $403.50-404.50/ ton, down $15.5/ ton. US Gulf methanol market closed at 111.00-112.00 cents/ gallon; The closing price of FOB Rotterdam methanol market was 362.50-363.50 euros/ ton, down 1 euro/ ton.

Macro and coal prices are weak or support methanol is limited. From the fundamental point of view, the supply is relatively abundant, and the decline of traditional downstream expectations leads to the weakening of the demand side. China methanol analysts expect that the domestic methanol market will be depressed in the short term.

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