Price Trend

According to the price monitoring of business associations, the domestic methanol market continued to rise this week. At the beginning of the week, the average price of methanol in domestic market was 2098 yuan/ton. At the end of the week, it was 2180 yuan/ton. Within the week, the price increased by 3.91%, 1.98% and 32.90% compared with the previous year.

II. Market Analysis

Products: Domestic methanol market continued to rise this week, affected by the expected production of Ningxia Baofeng and Datang Duolun olefin units, the northwest sellable goods decreased, with the centralized purchasing of terminal before National Day, this week mainland methanol continued to rise; port inventory remained high, but the methanol futures linkage was obvious, the focus of the week was obvious. Promote. In terms of inventory, the total inventory of ports in eastern and southern China was 1.4789 million tons, an increase of 116.7 million tons over the same period last week. As for methanol to olefins, a MTP plant in Datang Duolun was put into operation this week, and the production of 600,000 tons/year olefin equipment in Baofeng Phase II in Ningxia was put into production on the 12th, with a short shutdown of several days this week.

Industry chain: formaldehyde: This week, the formaldehyde Market as a whole rose. The upstream methanol market is operating at a high level, and the cost is well supported. The downstream market demand tends to be stable. Purchase is just needed. The overall turnover is still acceptable. The narrow margin of North China and East China market is obvious, while the narrow margin of rise in other areas. At present, the profit margin of formaldehyde enterprises is good.

Acetic acid: The domestic acetic acid market is weak this week. With the start-up of acetic acid plants in China, the number of social stocks is gradually increasing, while the downstream demand is relatively stable and the export side is generally digested. As a result, the accumulated stock of some domestic suppliers is gradually obvious, and the hollow state of the market is obvious, and the downstream for acetic acid is obvious. Digestion contract is the main, new single purchase a small amount, leading to some northwest, Shandong, Henan suppliers to yield shipment intention is obvious, the active decline of suppliers aggravates the market hollow state, leading to domestic acetic acid market transactions continue to decline.

Dimethyl ether: The price of domestic dimethyl ether has been raised frequently this week. Most manufacturers’prices have risen to 100 yuan/ton. The trading atmosphere has improved appropriately. This price increase is mainly driven by the soaring price of crude oil. The reference price of methanol in Henan Province, the main producing area, is 2120 yuan/ton. The rapid rise in cost directly affects the profits of dimethyl ether enterprises, thus driving up the prices of production enterprises. However, after the price increase, dimethyl ether enterprises are still in a loss state. Take Henan as an example. The theoretical loss of former enterprises reached about 120 yuan/ton. In terms of transaction, after the Mid-Autumn Festival, transportation has been restored to supply, and terminal supply is appropriate, but the volume of transactions is generally small, and there is no enthusiasm for large-scale procurement.

3. Future Market Forecast

Business Cooperatives Viewpoint: On the positive side, there is a centralized supply demand and considerable purchasing volume at the terminal before National Day; on the methanol-to-olefin plant, Datang Duolun is restarted; and on the 12th production of 600,000 tons/year olefin plant in Baofeng Phase II, Ningxia. This week, shipments were smooth in the main production areas of Northwest China, and most factories in Inner Mongolia and Shaanxi were closed down. On the negative side, the arrival of methanol in the port is concentrated, and the stock of the port is greatly increased; in the orderly construction of new methanol plants in China, Yingde in Jingmen has produced its products in late August; chlor-alkali chemical industry in Ordos on September 10; near the National Day, environmental protection supervision in the north is strengthened, and downstream areas such as Shandong and North China are likely to shrink. At present, the pre-sale of methanol plants in the Mainland is ideal, with low inventory, which has been suspended for more than this week, and the methanol terminal has a backup plan. Methanol analysts of business associations predict that the methanol market in the Mainland will continue to rise next week, with northwest as the main driving force; port inventory continues to suppress the rebound in the market, and the market has relatively abundant circulating goods. It is estimated that next week. The market will show a volatile trend.