Price Trend

According to the price monitoring of business associations, as of February 22, the average price of domestic methanol market was 2322 yuan/ton, and the domestic methanol market continued to rise.

II. Market Analysis

Products: Domestic methanol market continued the early part of the upward trend, the overall performance is good. Port spot traders rarely talk, forward paper sales are more active, intra-day futures shocks rise, driving the port to a small boost, but short-term high Treasury pressure still exists. In the Mainland market, the market climate is still acceptable, and some of them continue to rise. With the current partial production restriction and spring inspection boosting, the short-term market is expected to be affected by the supply side or strong performance; however, in the context of sustained tightening capacity, the prolonged export cycle of goods in the production area needs to be vigilant against local suppression; and close attention should be paid to recent equipment maintenance and inventory digestion in the port market.

Industry Chain: Formaldehyde: Linyi Formaldehyde Factory has returned to the market one after another, combined with the recent increase in raw material methanol finishing, to provide a certain cost support for the formaldehyde market. Zibo and its surrounding prices are around 1150-1200 yuan/ton; Linyi is around 1080-1110 yuan/ton. Acetic acid: The domestic glacial acetic acid market is stable and soft. North China is stable, and the stock pressure of enterprises is not high, so the offer is firm. Henan and East China have a positive intention to ship goods, but some of them have only slightly declined. The downstream demand is not good, the overall buying intention is weak and needs to be restored. In addition, the export negotiations are weak and the support for the domestic market is limited. Dimethyl ether: With the good support of downstream replenishment, the overall domestic dimethyl ether Market shipment situation has improved significantly in recent days and tentatively narrow upward, but in the short term, Xinxiangxin Lianheng increment and Yuhuang start construction expectations are expected to have little upward space.

3. Future Market Forecast

Business Cooperative Perspective: On the positive side, demand: At present, the new downstream replenishment support, the shopping atmosphere is still acceptable, the overall performance of the Mainland is good; Domestic devices: Mainland based on spring inspection and other factors, and the impact of environmental protection policies, maintenance enterprises continue to increase, late partial supply or contraction; Futures: futures market shocks, driving the spot market move. On the negative side, inventory: in the continuous replenishment of port imports, high inventory is difficult to digest in the short term, and the storage pressure is high; upstream: at present, some domestic gas projects are reworked and local supply is relatively abundant; international installations: Kaltim methanol plant in Indonesia, ZPC methanol plant in Iran and Malaysia are restarted and restored, so we need to pay more attention to the change of supply side. Methanol analysts at business associations predict that the short-term domestic methanol market will rise slightly.