SunSirs: Futures Higher, Methanol Spot Market is Expected to Rise

　　On June 15, the main closing price of methanol futures in Zhengzhou Commodity Exchange was 2514 RMB/ton, up 2.57% in the day. The atmosphere of the domestic methanol spot market is warming up. Before the festival, some traders make up for the air and the downstream goods to support the mentality of the industry. After the festival, the new prices in Northwest China may be relatively strong, and at present, they are generally bullish. According to the monitoring of SunSirs, as of June 15, the average price of domestic methanol production enterprises in Shandong was 2535 RMB/ton, with a month-on-month decrease of 7.06% and a year-on-year increase of 56.48%.

　　However, the maintenance plan of some methanol production enterprises is slightly delayed, the supply is relatively sufficient, and the social inventory is not good for the time being. In terms of downstream demand, the market of formaldehyde, dimethyl ether, and acetic acid is mainly on the wait-and-see basis, and there is no obvious positive pull for the moment. The price of MTBE is relatively good, crude oil continues to rise, and refined oil is about to open an upward window, which gives the market some psychological support and is expected to further push up the methanol market.

　　Summary of methanol market prices by Region as of June 15

　　Region

　　The price

　　Qinghai region

　　1940-2100 RMB/ton of factory cash withdrawal

　　Shanxi region

　　2200-2230 RMB/ton of factory cash withdrawal

　　Liaoning region

　　2280-2300 RMB/ton factory delivery

　　Fujian region

　　2730 RMB/ton around the tank including tax

　　Hnbei and Hunan

　　Ex-factory reference 2380 RMB/ton factory spot exchange

　　Anhui region

　　2470-2480 RMB/ton of factory acceptance

　　Henan region

　　2325-2335 RMB/ton of factory cash withdrawal

　　In the downstream, the formaldehyde market was mixed; The market price of dimethyl ether declined as a whole, and the trading atmosphere was general; The domestic acetic acid market is still tight. The general trend of the MTBE market tends to be stable, with only a slight rise in some parts of the north, with an increase of 50 RMB/ton.

　　In terms of the external market, as of June 14, the closing price of CFR China methanol was 307.00-308.00 USD/ton; the CFR Southeast Asia methanol market closed at 352.00-353.0 USD/ton, down 2 USD/ton. The US Gulf methanol market closed at 108.00-109.00 cents per gallon, up 1.5 cents per gallon; FOB Rotterdam methanol market closed at 310.00-311.00 Euro/ton, down 2 Euro/ton.

　　Region

　　Countries

　　Closing price

　　Rise and fall

　　Asia

　　CFR China

　　307.00-308.00 USD/ton

　　$0 per ton

　　Asia

　　CFR southeast Asia

　　USD 352.00-353.00 / ton

　　-$2 per ton

　　Europe and America

　　The us gulf

　　108.00 to 109.00 cents per gallon

　　One and a half cents a gallon

　　The European

　　FOB Rotterdam

　　EUR 310.00-311.00 / ton

　　-2 Euros per ton

　　Crude oil is strong and the market mentality is good. Methanol analysts of business news agencies expect that the domestic methanol market may continue to rise in a narrow range in the short term.