On April 9, after the revelry of the previous trading day, chemical sector shares fell in tandem. Among them, the main 1905 contract of methanol futures fell 0.88% on the whole day, closing at 2491 yuan/ton. Since March 29, the main 1905 contract of methanol futures has risen by 4.53%. Industry insiders believe that the domestic methanol plant centralized into the spring inspection, the center of gravity of superimposed crude oil has recently significantly increased, which helps to boost methanol prices.
Methanol port stocks have recently fallen from their high levels. As of April 4, methanol stocks in domestic ports were around 959.3 million tons, down 25.1 million tons from March 28, down 2.55%.
Analysts pointed out that in April each year, domestic methanol plants centralized into the spring inspection, the market supply is tightening. At the same time, the United States, Southeast Asia and other places have also been overhauled, the global supply of methanol will steadily decline. The production profits of downstream methanol enterprises have been repaired recently. In addition, with the arrival of the peak consumption season, the purchasing of enterprises has shown a more obvious warming up. Due to the warming up of downstream consumption in formaldehyde production enterprises, the start-up load is likely to rise further, and the consumption of methanol will increase.
Analysts said that from the crude oil point of view, due to Saudi Arabia led OPEC oil producers’initiative to reduce production more than expected, coupled with the slowdown in the growth of U.S. production, the recent strong rally in the crude oil market. Since April, the focus of crude oil futures prices at home and abroad has obviously moved up. Overall, the global market is still in a tight supply situation in the second quarter. With the improvement of the macro atmosphere, the focus of crude oil prices will rise further. Although domestic methanol does not use crude oil as raw material, coal-based process is the main method, while foreign methanol is also the main method. A sharp rise in crude oil prices will help to raise the prices of coal and natural gas, which will help methanol prices rise simultaneously.