In October, China domestic methanol market rose unilaterally. According to the monitoring data of SunSirs, the domestic methanol market in East China in early October was 3,012 RMB/ ton, and the price at the end of the month was 2,790 RMB/ ton. The price fell by 7.38% in the month, with the maximum amplitude of 14.07%, down 16.72% year on year.

At the beginning of October, the domestic methanol market in East China fell back. Before the National Day, due to the availability of goods before the festival and the tight supply and demand in some regions, the domestic methanol market price rose sharply, and the port price broke the 3000 RMB/ ton mark. With the increase of arrival and inventory in some regions, as well as the consumption of pre holiday stock in downstream areas after the holiday, the methanol price market has turned "upside down". After the festival, the domestic methanol market continued to decline unilaterally, and the quotations of manufacturers were also lowered for many times. The market atmosphere was "calm".

In the first half of October, the domestic methanol market in East China rose in shock, crude oil ran in shock, and coal prices were strong to support production costs. In terms of spot goods, the supply in the domestic mainland market increased, and the port market continued to de stock mainly. The atmosphere of the domestic methanol market is good. The quotation in some regions is adjusted in a narrow range, but the adjustment range is not large. The mainstream transaction is stable.

In the second half of October, the domestic methanol market in East China fell, some newly put into production units shipped, coupled with tight logistics, rising freight rates and the general mood of downstream customers, the methanol market fell again.

In terms of external market, as of October 31, the closing price of CFR Southeast Asia methanol market was USD 367.50-368.50/ton. US Gulf Methanol Market closed at 99.75-100.75 cents/gallon; FOB Rotterdam methanol market closed at 346.50-347.50 euros/ton, up 0.25 euros/ton.

In terms of devices, Xinxiang Zhongxin has 300,000 t/a devices, but there are many devices to be overhauled from October 30 to 31, such as Sichuan Daxing 200,000 t/a, Jingmen Yingde 500,000 t/a, Qinghai Zhonghao 600,000 t/a, Inner Mongolia Yuanxing 1 million t/a, and Inner Mongolia Sulige 330,000 t/a devices to be overhauled in November.

The support of coal price may weaken in the near future, and the contradiction between supply and demand will hardly change significantly in the short term. SunSirs methanol analysts predicted that the methanol market in China might be weak in November.

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