June 12 news
According to the commodity market analysis system, from June 5th to 12th (as of 10:00), the quotation for methanol in the East China port of the Chinese market rose from 3,213 CNY/ton to around 3,446 CNY/ton. During this period, the price increased by 7.26%, up 9.07% month-over-month, and 45.92% year-over-year. The methanol market at Chinese ports saw a strong rise, with port methanol inventories continuing to decline. Although downstream demand remained lukewarm, the available supply in the regional market was low, and the international situation once again intensified, driving up macro sentiment. The overall optimistic market sentiment continued to heat up, coupled with the current tight supply of regional goods. The market generally adhered to the mentality of buying on the rise rather than on the fall. Downstream rigid demand for restocking was also released, significantly boosting market trading activity. The inland methanol market in China also saw a substantial increase.
As of the close on June 12, the methanol futures closing price on the Zhengzhou Commodity Exchange in China fell. The main methanol futures contract 2609 opened at 3029 CNY/ton, with a high of 3074 CNY/ton and a low of 2963 CNY/ton, closing at 3010 CNY/ton, a decrease of 14 yuan or 0.46% from the previous trading day's settlement price. The volume was 1,042,096, the open interest was 848,577, and the daily increase in open interest was 10,947.
Methanol Spot and Futures Comparison Chart:
Summary of Methanol Market Prices by Region as of June 12:
| Region | Price |
|---|---|
| Shanxi Region | 2,900–2,910 CNY/ton |
| Anhui Region | 3,100–3,150 CNY/ton |
| Henan Region | 2,935–2,945 CNY/ton, cash payment upon factory pickup |
On the cost side, safety inspections at coal-producing regions remain stringent, leading to a slight reduction in supply. However, downstream coal plants and traders remain cautious in their purchasing behavior, resulting in stable yet moderately strong coal prices. The cost factors for methanol continue to be influenced by favorable conditions.
Coal/Thermal Coal (Upstream Raw Material) - Methanol Price Trend Comparison Chart:
Demand Side: On the downstream side, the market price of glacial acetic acid continues to rise locally, the formaldehyde market remains flat, and the dimethyl ether market operates steadily. Most downstream products are influenced by methanol prices, and the demand for methanol is favorably impacted.
Methanol-Acetic Acid (Downstream Product) Price Trend Comparison Chart:
Methanol-MTBE (Downstream Product) Price Trend Comparison Chart:
Supply side, plant maintenance at Shandong Union, Xinjiang Zhongtai, Xinjiang Xinye, Gansu Liuhua, and Guizhou Tianfu; the facilities of Inner Mongolia Donghua and China Haixue have resumed operations. Overall, the amount of lost production is greater than the amount recovered, leading to a decrease in output and a decline in the capacity utilization rate. The supply side of methanol is influenced by positive factors.
Regarding overseas markets, as of the close on June 11, the CFR Southeast Asia methanol market closed at USD 599–601 per ton. The FOB U.S. Gulf methanol market closed at 154–156 cents per gallon; and the FOB Rotterdam, Europe methanol market closed at EUR 500–502 per ton.
| Region | Country | Closing Price | Change |
|---|---|---|---|
| Asia | CFR Southeast Asia | USD 599–601 per ton | USD 0 per ton |
| Europe and the U.S. | U.S. Gulf | 154–156 cents per gallon | 0 cents per gallon |
| Europe | FOB Rotterdam | EUR 500–502 per ton | EUR 0 per ton |
Looking ahead, downstream consumer demand is expected to remain relatively stable with limited percentage changes. Under the dual hedging effect of simultaneous contraction in both supply and demand, the supply-demand gap in China’s methanol market continues to narrow. Overall, methanol analysts forecast that the spot methanol market in China will mainly consolidate.
