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Entering November, methanol fundamentals improved rapidly
Short-term inland supply is less than demand
Short-term inland supply is less than demandThe main driving force for the current round of methanol spot rise comes from the inland.
As early as late October, the 300,000-ton/year methanol-to-olefins plant in Henan restarted its outsourcing, which has pushed up methanol prices in Guanzhong and Henan in Shaanxi, and drove higher prices in southern Shandong and northern Jiangsu
The newly built methanol-to-olefins plant in northern Shaanxi or the maintenance of external extraction until the end of trial production, and its supporting methanol plant will not be put into operation after the Spring Festival, so there is no basis for a short-term decline in methanol in the inland areas
Port supply and demand are basically balanced
Port supply and demand are basically balancedFrom late October to early November, the port area imported more goods
Looking at the future, the port area is facing two problems: First, the methanol-to-olefin plant in Lianyungang is scheduled to be overhauled in early December, and the 30-day maintenance period will reduce demand by about 200,000 tons; second, the current total methanol inventory in coastal areas is still About 1.
To sum up, the shrinking domestic supply and the increase in demand are the main reasons for the current price increase in this round of methanol.
