According to the monitoring data of SunSirs, the price of domestic methanol at the East China Port on February 23 was 2,762 RMB/ton, up 1.67% from the previous trading day and up 5.04% from the same period last year. On February 23, the main methanol futures contract 2305 of Zhengzhou Commodity Exchange closed at 2,659 RMB/ton, up 45 RMB/ton or 1.72% from the settlement on the previous trading day.
Analysis review
On the spot side, the raw coal stopped falling and stabilized, and the spring inspection of some major production enterprises gradually began, so the social inventory gradually decreased. At the same time, the downstream just needed to stock up, the traders' enthusiasm for replenishment had increased, and the market trading atmosphere improved. The price of methanol rose slowly.
Market outlook
Downstream purchased just in needed, and the methanol market will mainly recover in the short term.
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