As of April 8, the average price of domestic methanol manufacturers in Shandong was 2395 yuan / ton, up 2.57% on a month on month basis and 39.65% on a year-on-year basis. Some production enterprises in Northwest China raised their ex factory quotations, and prices were boosted by futures. The downstream just needed to replenish after the festival, and the domestic methanol market rose in a narrow range. However, the good time is not long. The port’s destocking and low price supply still impact the market. In addition, the downstream’s acceptance capacity is limited, and the follow-up of the firm offer is insufficient, so the price rise is not sustainable.

Downstream, the formaldehyde market fell steadily, the overall trading was good. The market price of dimethyl ether continued to rise, and the market transaction atmosphere was good. MTBE market is mainly stable and stable with limited fluctuation. The domestic acetic acid market continued to rise. The supply of goods in the market continues to be tight, and the spot manufacturers still choose the bidding situation to push up the offer. The traders have no supply of goods in their hands. Under the continuous bullish attitude of the later market, the bidding price actively pushes up, which promotes the overall negotiation price of the market to go up substantially.

In the external market, as of April 7, the closing price of CFR China methanol was 294.00-295.00 US dollars / ton; CFR Southeast Asia methanol was 367.00-368.00 US dollars / ton, up 3 US dollars / ton. US Gulf methanol closed at 120.00-121.00 cents per gallon, while FOB Rotterdam methanol closed at 323.00-324.00 euros per ton, up 2 euros per ton.

In the future, on the supply side, as the spring overhaul is approaching, the overhaul plans of methanol enterprises in the mainland are coming out one after another; some downstream units are recovering one after another, and the demand for methanol is rising slowly. Business community methanol analysts expect that the domestic methanol market in the short term consolidation.