Methanol: general fundamentally driven

Methanol: general fundamentally driven

In the domestic market, last weekend, with the previous market transfer up, the downstream resistance to the high level gradually thickened, the field trading atmosphere turned light, methanol enterprise storage pressure increased, this week's quotes generally fell, manufacturers actively shipped mainly. The market price was lowered at the beginning of the week, and the transaction was still acceptable. The inventory of manufacturers was reduced this week, and the current pressure on the inventory is controllable. After the holiday, the traditional downstream work gradually resumed and demand followed up, forming a certain support for the market. Northwest local olefins enterprises are harvesting methanol from outside, and next week they plan to reduce the amount of outside harvesting. At present, the overall downstream olefin enterprises' profit is still low, and users' purchasing enthusiasm is generally positive, and the local olefin plant in the port is planned to be overhauled in the near future, so the support is weak. The cost side of the coal market shows seasonal weakness, which has a negative impact on methanol market expectations.

On the port side, the term linkage continues to be maintained, and the spot follows the futures center of gravity to move down. However, with the traditional downstream gradually recovered after the Lantern Festival, the main inventory week spot transactions have improved. February arrivals are expected to shrink, pay attention to the port spot circulation.

On the whole, it is expected that the domestic methanol market will fluctuate in the short term. We need to pay attention to the impact of coal on the raw material side and the downstream olefin plant start-up situation.