SunSirs: China Methanol Market Rises slowly

　　After the introduction of new prices in the main producing areas of Shaanxi and Mongolia, stimulated by the rising limit of thermal coal and the breakthrough of the main futures contract MA of 2,920 yuan / ton, the overall sales situation of the domestic methanol market is OK, and the market price rises in a narrow range. According to the monitoring of SunSirs, from August 17 to 24, the average price of domestic methanol production enterprises in Shandong increased from 2,567 yuan / ton to 2,580 yuan / ton. During the cycle, the price increased by 0.0.49%, the price decreased by 0.19% month on month, and the year-on-year increase was 59.75%.

　　The methanol market in major regions in China mainly rose slightly in a narrow range. The main production enterprises in Northwest China raised the ex-factory quotation by about 50 yuan / ton this week, which plays a positive guiding role in the whole domestic methanol market. The crude oil market rebounded, the coal price may be high, and the methanol cost is supported.

　　In terms of downstream products, the formaldehyde market is rising steadily; The market price of dimethyl ether rose steadily, and the trading atmosphere was general; The domestic acetic acid market is stable, the factory inventory is in a rational position, the downstream purchase of acetic acid is rational, the market is in a balanced situation, and the supplier’s temporary offer is stable.

　　In terms of external market, as of the closing on August 23, the closing price of CFR Southeast Asia methanol market was $389.00-390.00/ ton. The closing price of US Gulf methanol market was 133.50-134.50 cents/ gallon; The closing price of FOB Rotterdam methanol market was 416.00-417.00 euros/ ton, down 8 euros/ ton.

　　Recently, some units are planned to restart, and the supply in the mainland may increase. SunSirs methanol analysts expect that the short-term methanol market in China may be dominated by consolidation.