Huafu Factory not only produces chemical raw materials but also shares first-hand information and market information. Today, Huafu will share with you the latest market situation of methanol (raw material for the production of paraformaldehyde).
At the beginning of November, the domestic methanol market in East China was 2,863 yuan/ton, and the price at the end of the month was 2,731 yuan/ton (US$387/ton). The price fell by 3.68% within the month, with a maximum amplitude of 6.02%, and a year-on-year decrease of 11.94%.
At the beginning of the month, the domestic East China market rebounded from a low level, and the transaction was acceptable. The production equipment of major enterprises in some areas was shut down, the supply decreased, and the market buying momentum improved. The logistics in some areas are limited but the demand is weak, and the price increase of downstream goods is weak.
At the end of November, the methanol market fluctuated and fell. Although crude oil rebounded from a low level, the boost to methanol futures is limited. Northwest coal to the factory continued to fall, making the cost support continued to decline, the operating rate of production enterprises continued to rise, and demand continued to be weak.
In December, coal may support daily consumption and prices due to low temperatures. Therefore, the cost of methanol is still supported, but the contradiction between supply and demand will hardly change significantly in the short term. Huafu Chemicals expects that the methanol market will be mainly organized in December.
