8.16-8.20 brief description of the methanol market in the week

This week (8.16-8.20), the methanol market in Asia remains in a state of shock. CFR Southeast Asia was flat and the week was concussed to consolidate. The main reason was that it coincided with Ramadan and the market demand was slowing down. In addition, in the Middle East, the Iranian Hag Petrochemical Company (KPC) methanol plant also postponed its restart. The CFR China methanol price rose slightly. International traders said that the seller is not in a hurry to sell, and now is a seller's market, not the source of the supply, but the seller wants to make it nervous. In addition, Taiwan Chemical Fiber Co., Ltd. DMF plant parking, parking will purchase methanol 7000-8000 tons.

During the week, in European and American markets, the price of methanol in the northwestern Europe rose slightly, continuing the trend of the previous week, mainly due to the parking of equipment, the reduction of Iran’s supply and the increase of buyer’s interest. Market participants have different mentalities. Some people think that prices will rise due to the reduction in Iran’s supply. However, others believe that Venezuelan sources will enter the market and prices will not continue to rise. The spot methanol price in the United States oscillated this week and the market supply was sufficient. However, the methanol company in Trinidad and Tobago plans to overhaul its methanol plant at the end of September, while the Mettle 1# methanol plant in San Jose is also Temporarily closed in the fourth quarter, spot supply may be tense in October.