According to the Commodity Market Analysis System of Shengyi Society, from February 2nd to 9th (as of 10:00), the domestic methanol market in East China port quotations fell from 2223 yuan/ton to around 2220 yuan/ton, with a price drop of 0.15% during the period, a month on month drop of 2.02%, and a year-on-year drop of 16.52%. The domestic methanol market is weak, with pre holiday companies still mainly relying on inventory and shipment, coupled with a weak macro atmosphere, the market continues to decline. As the destocking gradually comes to an end, market trading tends to be light, and downstream investors are gradually withdrawing from the market to observe.
As of the close on February 9th, the closing price of methanol futures on the Zhengzhou Commodity Exchange has risen. The main contract for methanol futures, 2605, opened at 2236 yuan/ton, with a highest price of 2255 yuan/ton and a lowest price of 2227 yuan/ton. It closed at 2231 yuan/ton at the end of the trading day, an increase of 1 yuan or 0.04% compared to the settlement of the previous trading day. The trading volume is 849691, the position is 831646, and the daily increase in position is 5357.

On the cost side, as the Spring Festival approaches, coal supply and demand are both weak, and the overall trading activity in the market has decreased, resulting in fluctuating coal prices. The cost impact is mixed.
On the demand side, the profit fluctuations of formaldehyde, glacial acetic acid, and dimethyl ether enterprises are relatively narrow, and the market is gradually coming to an end near the Spring Festival, with limited market fluctuations. Most downstream products are affected by methanol prices, and the demand for methanol is biased towards negative factors.
The overall recovery of the device exceeds the loss, resulting in an increase in production and an increase in capacity utilization. Negative factors affecting the methanol supply side.
In terms of external trading, as of the close of February 6th, CFR Southeast Asia methanol market closed at 322.5-323.5 US dollars per ton. The FOB US Gulf methanol market closed at 106.5-107.5 cents per gallon; The European FOB Rotterdam methanol market closed at 296.5-297.5 euros/ton, down 1 euro/ton.
Future forecast: As the Spring Festival approaches and upstream inventory and downstream stocking come to an end, the overall market atmosphere may further weaken. Business Society’s methanol analyst predicts that the domestic methanol spot market will mainly experience consolidation and volatility.