On February 27, China’s domestic methanol market is on the strong side

Price Trend

According to the price monitoring of business associations, as of February 27, the average price of domestic methanol market was 2420 yuan/ton, and the market trend of domestic methanol market was strong.

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II. Market Analysis

Products: Domestic methanol market performance is still acceptable, the overall upward trend. At present, the inland market has stable shipments. Under the influence of such factors as the approaching spring inspection, olefin extraction and environmental protection maintenance in Shanxi, the overall storage pressure is relatively small, and the upward trend continues. In the port area, although futures rose sharply in the day, due to the impact of inventory pressure, spot performance was weaker than that in the mainland, slightly upward. The short-term mainland market is supported by favorable factors or continues to be strong, while the port areas need to focus on futures trends. Domestic methanol freight rates continued to decline, ranging from 10-20 yuan/ton. The freight rates of Inner Mongolia North Line to North Shandong refer to 290-360 yuan/ton, South Line to North Shandong refer to 290-320 yuan/ton, Shanxi part to North Shandong 130-190 yuan/ton, Guanzhong to North Shandong refer to 140-190 yuan/ton and South Shandong 140-180 yuan/ton. Xinjiang refers to 750-780 yuan/ton from North Shandong and Shenhua from Inner Mongolia refers to 350 yuan/ton from North Shandong.

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Industry chain: formaldehyde: Linyi formaldehyde enterprises have resumed production, boosted by the recent rise in raw material methanol market, formaldehyde cost support is good, Shandong formaldehyde market is rising. Linyi part around 1200 yuan / ton, Zibo and its surrounding around 1200 – 1250 yuan / ton. Acetic acid: The domestic glacial acetic acid market is stable and soft. Southern Shandong and Henan enterprises have high shipping intentions, so the real single is soft. Saleable volume of Northern Enterprises is still tight, so the offer is firm. At present, the supply side of enterprises is still unbalanced. Downstream purchasing intention is more cautious, the latter market mentality is not clear. Dimethyl ether: Downstream centralized delisting digestion inventory, the seller’s sales pressure increased sharply, local price downward wider aggravated downstream bullish state, the domestic dimethyl ether Market is expected to decline in the short term or again under pressure.

3. Future Market Forecast

Business Cooperatives Viewpoint: On the positive side, Northwest Guiding Price: Shaanxi-Mongolia Methanol has slightly increased this week, the current North-South Guiding Price is set at 2000 yuan/ton, which is 50 yuan/ton higher than last week; Domestic installations: Mainland based on spring inspection and other factors, and under the influence of environmental protection policies, maintenance enterprises have increased, local supply or contraction in the later period; Olefins: olefins procurement, pre-sale are good, expenditure. Methanol price of propylene raw material. On the negative side, inventory: high stocks in port areas are difficult to digest in the short term, and the stock pressure is high; crude oil: crude oil falls, which leads to the low opening of domestic chemical products; freight: recently, local freight of methanol has fallen significantly, which makes the cost of arrival of goods in consumer areas slightly loosened. Methanol analysts at business associations predict that the short-term domestic methanol market will rise slightly.

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