The price of methanol tons rose 4.7% on a ten day basis in the middle of August

The latest data from the National Bureau of statistics shows that in the middle of August 2019, the market of chemical products rose and fell with each other. Among them, the price of methanol per ton increased by 4.7%; the market of polyethylene and polypropylene declined weakly, with the ten day to month ratio decreased by 0.7% and 0.1% respectively. Specifically, in the middle of August, the price of methanol (superior product) was 2022.3 CNY/ton, up 91.3 CNY/ton on a ten day on month basis, up 4.7%, 3.6 percentage points higher than the previous period. In the middle of August, the price of polyethylene (LLDPE, 7042) was 7593.8 CNY/ton, down 52.1 CNY/ton, 0.7% compared with the previous period, down 0.9 percentage points. In the middle of August, the price of polypropylene (T30S) was 8919.1 CNY/ton, down 6.2 CNY/ton, or 0.1% on a ten day on month basis. According to the analysis, since the middle of March, the methanol market has only rebounded slightly in the middle and last ten days of May, and has been in a volatile downward situation. By the end of July, the price of methanol had broken the new low six times in a row, and for the first time, it fell below the level of 2000 CNY/ton, to 1910.1 CNY/ton. After a smooth decline, at the end of July and the beginning of August, manufacturers in some regions took the initiative to shut down production and insure prices, forming a certain favorable support for the supply side, and the methanol market rebounded slightly. Especially in the northwest, the price is obvious. However, from the basic point of view, the demand side of methanol continues to be weak and the port inventory remains high, which makes it difficult to change the weak pattern of market supply and demand and restrain the continuous increase of methanol price. Therefore, the short-term domestic methanol market may still be dominated by weak adjustment.