According to the Commodity Market Analysis System of Shengyi Society, from November 3rd to 7th (as of 15:00), the domestic methanol market in East China port quotations fell from 2102 yuan/ton to around 2095 yuan/ton, with a price drop of 0.33% during the cycle, a month on month drop of 6.37%, and a year-on-year drop of 16.17%. The domestic methanol market continues to be weak, and the high inventory status of ports continues. Under high supply pressure, the methanol market in ports continues to decline. Mainland methanol continues to decline, the supply and demand pattern remains weak, the market has experienced a significant decline, and coupled with the continuous reversal of port supply, market sentiment has been significantly impacted.

As of the close on November 7th, the closing price of methanol futures on Zhengzhou Commodity Exchange has fallen. The main contract for methanol futures, 2601, opened at 2122 yuan/ton, with a highest price of 2132 yuan/ton and a lowest price of 2106 yuan/ton. It closed at 2112 yuan/ton at the end of the trading day, a decrease of 4 yuan or 0.19% compared to the settlement of the previous trading day. The trading volume is 915796, the position is 1390819, and the daily increase is 22489.
On the cost side, coal destocking is evident, while winter storage is replenished, and there is still room for price increases, which strengthens the support on the cost side. The cost of methanol is influenced by favorable factors.
On the demand side, supported by the demand for olefin extraction, the overall demand for traditional downstream industries is expected to rebound, but the increment on the demand side is limited. Most downstream products are affected by methanol prices, and the demand for methanol is biased towards negative factors.
On the supply side, the overall recovery exceeds the loss, resulting in an increase in capacity utilization. Negative factors affecting the methanol supply side.
In terms of external trading, as of the close on November 6th, CFR Southeast Asia methanol market closed at 322.5-323.5 US dollars per ton. The FOB US Gulf methanol market closed at 89.5-90.5 cents per gallon; The European FOB Rotterdam methanol market closed at 271.5-272.5 euros/ton.
In the future market forecast, high domestic supply, high port inventory, and downstream gas buying are expected to continue. Business Society’s methanol analysts predict that the domestic methanol spot market will be weak.