Weekly Global Methanol Market Review (Sep 6 - Sep 10)
This week, the global methanol market saw continuous price rises in some regions. Thereinto, the price gains extended in China and Southeast Asia.
In China, the imported methanol market saw accelerated price growth this week. At the beginning, a few buyers bid at $340-375/mt for non-Iranian cargoes, and a few bids were at a premium of 9-9.5% for cargoes from certain area in the Middle East, but merchantable resources were limited. A few suppliers intended to sell at $380/mt, and a few dealing prices for non-Iranian cargoes were heard at a premium of 2.8%. Later this week, buyers bid at $375-380/mt, but methanol suppliers controlled the sales pace. A few suppliers offered at a premium of 3.2% for non-Iranian cargoes. Although the methanol prices began to rise in a few Southeast Asian regions from last week, CFR China prices also mounted up, so the arbitrage space was not obvious. The volume of re-exports was still influenced by the arbitrage space between China and Southeast Asia as well as the freight.
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