Weekly Global Methanol Market Review (Aug 23-Aug 27)
This week, methanol prices went up in most Asian regions while pulled back in a few regions of Europe and the U.S.
In China, imported methanol prices continued to advance within the week. No fixed-price offers were heard from early to mid-week, and a few bids were $340-362/mt. A few dealing prices for forward month arrival non-Iranian cargoes were at a premium of 2.5%, and 5,000mt of forward month arrival non-Iranian cargoes were traded at $365/mt. As for re-export, the arbitrage space between China and other Asian countries or Europe narrowed gradually. Bonded goods were negotiated at $350-370/mt FOB China. In addition, the prices of imported cargoes were $298-365/mt CFR China for reference.
In other Asian regions, the methanol markets saw some different performances. In South Korea, a few local offers were heard at $400/mt, and the prices of imported cargoes were $395-400/mt CFR South Korea for reference. In Taiwan Province, local methanol prices were $395-400/mt for reference, and 5,000mt of cargoes were traded at $395/mt. In Southeast Asia, the market was largely stable, and suppliers mainly fulfilled long-term contracts. It is heard that important downstream plants plan to take overhauls. Local market prices were $385-390/mt for reference. In India, local methanol market was stable-to-slipping with supply increasing gradually, and the prices were $400-405/mt for reference.
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