The price center of the domestic methanol market has risen, the rebound of crude oil and coal has been boosted, the futures market has risen, and the inventories of production enterprises are low, so traders have the mood to push up.

According to the monitoring data of SunSirs, from August 22 to 29, the average price of domestic methanol market increased from 2,458 RMB/ ton to 2,539 RMB/ ton. During the period, the price increased by 3.26%, and the price fell by 2.23% month on month and 2.91% year on year.

As of the closing of August 29, the methanol futures of Zhengzhou Commodity Exchange fluctuated. The opening price of MA2301 contract was 2,612 RMB/ ton, the highest price was 2,621 RMB/ ton, the lowest price was 2,563 RMB/ ton, and the closing price was 2,584 RMB/ ton, down 37 RMB/ ton compared with the closing of the previous trading day. As of the closing, the position of MA2301 contract was 1,087,600, an increase of 41,100 compared with the previous trading day.

The price of products in the methanol industry chain fluctuated. The price of natural gas, the upstream product of methanol, was stable, while the price of coal increased in a narrow range. The cost of methanol was strongly supported; Among downstream products, the price of dimethyl ether in Henan increased the most; Among the related products, the price of ethylene glycol in Shandong dropped the most.

In terms of external market, as of the closing on August 26, the closing price of CFR Southeast Asia methanol market was 353.00-354.00 USD/ ton, up by 1 USD/ ton. The US Gulf methanol market closed at 104.00-105.00 cents/ gallon, down 0.5 cents/ gallon; FOB Rotterdam methanol market closed at 362.25-363.25 euros/ ton, up 4 euros/ ton.

Both short-term supply and demand have increased. SunSirs methanol analysts of predict that China domestic methanol market will be mainly shaken and sorted out in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.