According to the Commodity Market Analysis System of Shengyi Society, from October 20th to 24th (as of 15:00), the domestic methanol market in East China port quotations fell from 2290 yuan/ton to around 2238 yuan/ton, with a price drop of 2.27% during the period, a month on month drop of 1.02%, and a year-on-year drop of 8.28%. The domestic methanol market is fluctuating and declining, with relatively weak downstream buying sentiment, suppressing the weak operation of market prices.

As of the close on October 24th, the closing price of methanol futures on Zhengzhou Commodity Exchange has fallen. The main contract for methanol futures, 2601, opened at 2294 yuan/ton, with a highest price of 2299 yuan/ton and a lowest price of 2266 yuan/ton. It closed at 2272 yuan/ton in the closing session, a decrease of 4% or 0.18% from the previous trading day’s settlement. The trading volume is 603000, the position is 1080950, and the daily increase is 14570.
On the cost side, as winter storage approaches, the release of some downstream demand for coal provides strong support for coal prices, resulting in strong cost support. The cost of methanol is influenced by favorable factors.
On the demand side, the news of olefin external procurement is being rendered, and traditional downstream low-priced supplementary procurement is following up, resulting in a slight shift in market price focus. Most downstream products are affected by methanol prices, and the demand for methanol is biased towards negative factors.
On the supply side, the overall loss of equipment is greater than the recovery, resulting in a decrease in capacity utilization. The supply of methanol is affected by favorable factors.
In terms of external markets, as of the close on October 23, CFR Southeast Asia methanol market closed at $324.5-325.5 per ton. The FOB US Gulf methanol market closed at 89.5-90.5 cents/gallon, down 1 cent/gallon; The European FOB Rotterdam methanol market closed at 268.5-269.5 euros/ton, down 3 euros/ton.
In the future market forecast, methanol supply is sufficient, traders have a clear intention to ship, traditional downstream demand is decreasing, and business analysts predict that the domestic methanol spot market will be weak.