China’s domestic methanol market is weak on April 24

Price Trend

According to the price monitoring of business associations, as of April 24, the average price of domestic methanol market was 2232 yuan/ton, and the market trend of domestic methanol market was weak.

II. Market Analysis

Products: Domestic methanol market performance is different, both ups and downs are reflected. The overall performance of the methanol market in the Mainland is general, with a partial continuation of the downward trend. The tentative increase of 10 yuan/ton in Shandong and Northern Jiangsu provinces has little impact on the market at present. It is reported that the news of plant restart has increased recently, and most of the operators are short-sighted. On the port market, the crude oil market is strong, supporting methanol futures to a certain extent, and the spot mainly fluctuates with the narrow range of futures. It is expected that the short-term market trend is weak, and we need to continue to pay attention to the device dynamics and futures trend in Northwest China.

In terms of freight, domestic freight for methanol has been continuing to be sorted out recently. The freight rate from the Northern Line of Inner Mongolia to the northern part of Shandong refers to 120-200 yuan/ton, and from the southern line to the northern part of Shandong 130-170 yuan/ton. Part of Shanxi Province is 110-150 yuan/ton to the north of Shandong Province, and reference 120-150 yuan/ton from Guanzhong to the north of Shandong Province and 120-150 yuan/ton to the south of Shandong Province. Qinghai to North Shandong 280-330 yuan/ton.

Industry chain: formaldehyde: raw methanol continues to be weak trend; safety supervision continues, formaldehyde construction in the lower reaches of Shandong maintains a low level, formaldehyde market trading performance is general, or will decline with raw material finishing later. Now Linyi is around 1350 yuan/ton, Zibo and its surrounding areas are maintained at 1500-1550 yuan/ton. Acetic acid: The domestic glacial acetic acid market continued to decline. Enterprises have a high intention to deliver goods, and many offers have been lowered to varying degrees to stimulate receipt of goods. However, the supply and demand fundamentals in the field are still poor. Yanzhou Coal Mine, Nanjing BP and Huayi Small Devices will be restarted one after another, and supply will be upgraded. Domestic demand is weak, the impact of security checks in many places, small enterprises to reduce the burden and parking. Qingdao Navy Festival has affected the transportation and downstream enterprises in the central and Eastern Shandong region to basically stagnate, and demand has declined. Exporters have few discussions and little intention to make inquiries. Overall, the market mentality is mainly empty. Dimethyl ether: The market of dimethyl ether is rising steadily and moderately, and the market atmosphere is general. Upgraded by liquefied petroleum gas, manufacturers have a strong mentality, but the downstream market entry enthusiasm is general, and it is expected that tomorrow or stability will be the main part of the firm.

3. Future Market Forecast

Business Cooperative Viewpoint: On the positive side, the supply side: the overhaul of some devices in the field has not ended, and the local supply side is tighter; crude oil: crude oil has shown strong performance in recent days, to some extent, supporting energy futures. On the negative side, inventory: there are more ships coming to port after arrival, so we need to be vigilant about stock accumulation; on the demand side: at the present stage, security supervision has continued to restrict some downstream demand; on the latter stage, maintenance devices have been restored one after another, and the supply side has raised expectations, and the contradiction between supply and demand has become increasingly prominent. Methanol analysts from business associations predict that the overall performance of the domestic methanol market in the short term is relatively weak.