Price trend

According to the monitoring data of SunSirs, the average domestic methanol market price on June 1 was 2,617 RMB/ton, which was stable compared with the previous working day and decreased by 1.78% year-on-year.

Analysis review

On June 1st, the methanol futures of Zhengzhou Commodity Exchange fluctuated upward. The main contract MA2209 closed at 2,878 RMB/ton in late trading, up 51 RMB/ton from the previous trading day's close. As of closing, the MA2209 contract open interest was 1,045,800 lots, an increase of 86,600 lots over the previous trading day.

In terms of spot, international oil prices continued to rise, coal prices were firm, and there was no obvious driving force from fundamentals. The number of contracts signed by factories in the main production areas in the northwest decreased, and the tender price of the northern Shandong refinery declined slightly. The supply side was relatively abundant, and the demand side had not changed significantly for the time being.

Market outlook

v In the short term, the domestic methanol market will be dominated by consolidation.

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