Methanol rebound lack of motivation

Methanol rebound lack of motivation

Market Review: The main methanol contract ME1409 opened in 2659 on the 13th, up to 2672, the lowest 2652, closing at 2663. Compared with the settlement price increase of 0.04% on the 12th, the trading volume decreased by 3818 to 40,200 lots compared with the previous day, and the open interest decreased by 596 lots to 38,100 lots compared with the previous day.

Fundamental analysis: International: May 12 FOB European Rotterdam methanol closing price: 412.24-413.61 US dollars / ton, compared with the previous trading day down 7.12 US dollars / ton; FOB US Gulf methanol closing price: 428.57-430.24 US dollars / ton, Compared with the previous trading day, it rose 3.33 US dollars / ton. CRF South East Asia's methanol closing price was 396.5-398.5, down 3 USD/ton from the previous trading day.

In terms of domestic spot market, the prices of methanol in Central China, North China, and Northeast China are stable. The mainstream ex-factory price in Xinxiang, Henan Province is 2,380-2,400 yuan/ton, and in Luoyang, the mainstream canister price is 2,400 yuan/ton; in East China, the price of methanol in Jiangsu Port is firm, and Taicang is domestically produced. And imports of mainstream quotes 2730-2740 yuan / ton, Jiangyin, Changzhou domestic mainstream quotes 2710-2720 yuan / ton, traders reluctant sellers of low-priced goods, strong price intentions; some of the northwestern part of the methanol market prices down slightly consolidation, the market volume is light Among them, the mainstream quotation of Guangdong traders was 2870-2880 yuan/ton, the focus of negotiation was 2840-2850 yuan/ton, and the mainstream price quotation in Quanzhou and Xiamen market was 2,800 yuan/ton, the market transactions were general, and the price of methanol in Gansu and Ningxia fell by 30-50. RMB/ton ranged, the overall sales situation was general, and Huating equipment was overhauled in June. In the downstream industries, the formaldehyde plant is operating normally and shipments are acceptable, but the overall purchase intention is low.

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