According to the price monitoring of business associations, as of April 10, the average price of domestic methanol market was 2474 yuan/ton, and the domestic methanol market was mainly higher.
II. Market Analysis
Products: Domestic methanol market continues to differ, with local growth in the Mainland. The port market is now clearly linked, with a sharp fall in futures in the afternoon. In the mainland market, the Northwest Spring Inspection has been launched one after another, the supply side has been tightened, short-term price support has been tightened, and some areas in the mainland have increased slightly. At present, downstream installations have not been restored, and the demand side is difficult to improve in the near future, so we need to focus on the latter. It is expected that the regional trend of the short-term market will continue, and we need to continue to pay attention to the maintenance dynamics of Northwest China’s equipment and the impact of Jiangsu’s safety regulation.
In terms of freight, domestic freight for methanol has been sorted out in recent days. The freight from northern Inner Mongolia to northern Shandong refers to 220-250 yuan/ton, up 20 yuan/ton; from southern to northern Shandong 150-240 yuan/ton. From Shanxi to North Shandong, 90-120 yuan per ton, from Guanzhong to North Shandong, 130-180 yuan per ton, up 10 yuan per ton, to South Shandong, 140-190 yuan per ton. Ningxia to the north of Shandong 280 yuan / ton, Shenhua to the north of Shandong 300 – 320 yuan / ton.
Industry chain: formaldehyde: formaldehyde in Shandong is temporarily stable. Some formaldehyde shutdown enterprises have plans to resume production, and formaldehyde or finishing in Shandong has fallen in the later period. Linyi is now around 1400 yuan/ton, Zibo and its surrounding areas are maintained at 1500-1550 yuan/ton. Acetic acid: The domestic glacial acetic acid market is narrow and stable. The low spot supply in East China and North China is due to the centralization of equipment maintenance information. Dimethyl ether: Dimethyl ether Market consolidation, market turnover improved. The liquefied petroleum gas (LPG) market boosted downstream mentality and improved shipments from manufacturers.
3. Future Market Forecast
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Business Cooperatives Viewpoint: On the positive side, installations: the recent spring inspection of some northwest projects, local supply contraction, export volume reduction, strong mentality; downstream installations: some downstream installations are planned to resume work, local downstream demand or a small increase. Inventory: short-term port market inventory is at a high level, to some extent inhibit spot prices; demand side: at present, the downstream devices such as dimethyl ether, formaldehyde, acetic acid have not been restored, and terminal demand is limited; futures: the futures market has fallen sharply, and port spot declines accordingly. Methanol analysts from business associations predict that the regional trend of domestic methanol market will continue in the short term, and they need to continue to pay attention to the maintenance trends of Northwest units and the impact of Jiangsu’s safety renovation.