China’s domestic methanol market price rises slightly

Domestic methanol market rose slightly. According to the price monitoring of the business agency, the domestic methanol market price was 1635 yuan / ton at the beginning of the week, and 1657 yuan / ton at the weekend, with an increase of 1.38% during the week. The price was 0.45% higher than that of the same period last month, and the price was 22.91% lower than that of the same period last year.

This week, the performance of the mainland and port markets is different. Due to the strong performance of some equipment maintenance markets in Northwest China, manufacturers’ inventory pressure is not great, and the futures prices are rising, so the enterprise offers are actively following up. On the port side, after the spot price rises, the downstream is short of receiving high price goods The demand side is affected by factors such as rainy season and stricter environmental protection, and the traditional downstream start-up is not as expected. Although the profit of MTO is fair, the start-up is still at a low level compared with the same period last year. Some manufacturers still plan to repair in July.

In terms of industrial chain, formaldehyde: this week, the domestic formaldehyde market showed an upward trend. Mainly based on the strong pull up of upstream raw materials, the cost of purchasing raw materials of formaldehyde enterprises increased, supported by this, the offer of formaldehyde enterprises passively followed up. The terminal demand side continued to be affected by high temperature and rain, and the starting load continued to be low. Therefore, the demand for formaldehyde did not increase significantly, and was not affected by the rising market of formaldehyde on the supply side.

Acetic acid: domestic acetic acid market rose sharply this week. At the beginning of the month, all manufacturers concentrated on delivery of contract sources, and the spot supply in the market was relatively tight. When Jiangsu Sopu and Shanghai Huayi units stopped at the end of last week, the acetic acid market lost 4800 tons per day. However, when the downstream demand was stable, the acetic acid market passively formed a situation of short supply. The inventory quantity of each manufacturer was low, which pushed up the price gradually.

Dimethyl ether: the domestic dimethyl ether market continued to rise this week, and the transaction atmosphere improved. Among them, the main production areas in Henan Province showed a particularly obvious rise, with the prices of mainstream enterprises such as BMW and xinlianxin rising continuously, with an increase of 70 yuan / ton during the week. At present, the inventory pressure of enterprises is generally not strong. Under the psychological influence of buying up and not buying down, the intention of terminal goods preparation is improved, and the overall transaction situation is active.

On the whole, methanol is constrained by high inventory, and supported by cost and crude oil. Methanol analysts of business agency expect that the domestic methanol market will maintain a narrow adjustment in the short term.