Methanol: Futures market accelerates decline, and China's market is weak

On September 4th, the methanol market price index was 2137.94, down 8.84 from yesterday and 0.41 per cent from the previous month.

Outer disk dynamics:

Methanol closed on September 3:

China CFR 290-293 US dollars / ton, down 1 US dollars / ton

Us FOB 108109 cents per gallon, flat

CFR in Southeast Asia: us $346-347 per ton, Ping

European FOB 342-343 euros / ton, down 2 euros / ton.

Summary of today's prices:

Guanzhong: 2180-2230 (0), North: 2070-2100 (0), South: 2100 (- 10), Lunan: 2350 (- 30), Henan: 2290-2300 (- 10), Shanxi: 2230-2290 (0), Port: 24402450 (- 15)

Freight:

Northern route-230-280 (- 15amp 0), northern route-southern Shandong 310-335 (0max 0), southern route-northern Shandong 220-260 (- 10max 0), Guanzhong-southwest Shandong 160-240 (0max 0)

Spot marketToday, the methanol market price continues to be weak, the futures market continues to be weak, the enthusiasm of the operators to enter the market to replenish the stock is not high, and the market transaction atmosphere is limited under the rigid demand. However, most manufacturers in the main producing areas offer high prices under the support of low inventory pressure. Specifically, the market prices in the main producing areas are running at a high level. The quotation on the southern route revolves around 2100 yuan / ton, which is 10 yuan lower than that of yesterday, and the quotation of the northern line revolves around 2070-2100 yuan / ton. Yesterday, the futures market fluctuated downwards, and the market wait-and-see mood was strong. Downstream and traders are not enthusiastic about receiving goods. Market prices in Shandong, the main consumer area, fell narrowly, with 2350 yuan / ton in southern Shandong and 2330-2350 yuan / ton in northern Shandong. The wait-and-see mood of the market is more obvious, and the overall trading atmosphere of the market is limited. The market quotation in North China is running. Hebei quotes 2320-2350 yuan / ton today. The confidence of the operators in the market is not enough, and the transaction atmosphere is slightly light. Shanxi quotes 2230-2290 yuan / ton today, and some of the devices in the field are parked and overhauled. The market supply in the region has been reduced, but the terminal demand is still weak, and the market transaction atmosphere is limited.

Port marketMethanol futures fell in volatility today. Spot rigid demand procurement, affordable follow-up. Paper goods are actively replenished on bargains, arbitrage shipments, the basis is strong, and the monthly price difference is narrowing. The overall deal is OK. Taicang main port transaction price: spot / 9: 2400-2420, basis 01-10 Maximus 9 transaction: 2405-2415, basis 01-10 position 9 transaction: 2405-2435, base difference 01-5 scarcity May 0 cross 10 transaction: 2435-2465, basis difference 01 "22max" 25.

Future forecast:Recently, the performance of demand in the downstream of the Chinese market is different, the main downstream market starts to maintain a high position, and some olefin plants continue to extract raw materials, which slightly supports the mentality of manufacturers, and the quotations of manufacturers in some areas remain high. However, the recovery of demand in the traditional downstream market is slow, some operators have a certain price reduction operation, and the enthusiasm of entering the market is general, but considering that the inventory pressure of manufacturers in the main producing areas is not great at present. The spot market price reduction space is limited, but the futures market continues to be weak and volatile, operators must be in a wait-and-see mood for the future. At present, under the long-short game, the short-term Chinese market price range is expected to fluctuate mainly, but in the later stage, we still need to pay attention to the coal price, the operation of the plant in the field and the follow-up of downstream demand.