Methanol spot market trading has recovered

China Paint Network
News: Methanol futures main contract on January 13 hit a new low of 1897 yuan / ton after the start of the rebound, breaking the resistance of the 5th, 10th and 20th average, last week rushed up 2090 yuan / ton stage high, followed by a small correction, but still stable above 2000 yuan / ton.
oil prices recovered and prices recovered as the decline in crude oil slowed and futures prices continued to rise. Last week,000 methanol prices rebounded slightly after falling at the beginning of the week. Domestic Inner Mongolia, Shandong and Shanxi and other places methanol market first rose and then suppressed, the second half of the push up momentum has slowed down, price stability. Henan market due to factory parking supply tight, with downstream replenishment driven, the price is strong. Hebei market is stable, most manufacturers inventory pressure is not large, active shipments mainly.
, inventories at coastal ports totaled 1.0122 million tons as of January 23, down 873,000 tons from the previous week, according to Petrochemical Information Network. Among them, Jiangsu port inventory of 447,000 tons; South China port inventory of 339,000 tons; Ningbo port inventory of 2262 million tons. According to statistics, domestic methanol production in 2014 was 37.477 million tons, a new high, an increase of nearly 30% YoY. High-speed production growth and slow port destocking process, so that the domestic methanol supply is still loose.
downstream, formaldehyde prices and device loads continued to weaken in the off-season; Acetic acid market downstream procurement intention is poor, manufacturers inventory has a slow increase in the trend; The DME market was supported by higher prices for liquefied gas last week, with higher prices, but the downstream pick-up enthusiasm was poor and the plant's operating rate has not yet been restored. The emerging methanol olefin market did not change much last week, although the acrylic market is optimistic, but in the short term Yangcoal Hengtong, Xingxing Energy production is unlikely, after Shandong Yang Coal Hengtong will be 300,000 tons / year MTO device test time delayed to March, and Xingxing Energy is expected to start production in the second quarter of this year. Although Lubei has a device to feed, but the early stock is more adequate, the impact on the market is more limited.
recently in some parts of the country more rain and snow weather, this week, northwest and southwest and other places will welcome a wide range of rain and snow, production areas will be affected, continued price pressure. Lack of effective support for demand, limited incentive to pick up downstream, coupled with methanol manufacturers and port inventory pressure, do not support the methanol spot market stability and the sharp rise in prices. There is still room for a further correction this week after the 1506 contract fell back from last week's highs.