According to the monitoring data of SunSirs, the average price of domestic methanol production enterprises was 3,056 RMB/ ton on November 10. On November 10, the price of methanol futures in Zhengzhou Commodity Exchange dropped significantly. The main contract MA2201 closed at 2,689 RMB/ ton at the end of the trading day, down 120 RMB/ ton or 4.27% compared with the closing of the previous trading day. The shipments of production enterprises are different, downstream users purchase on demand, traders operate cautiously, and market prices look for rebalancing. The international oil price rebounded, but the price of thermal coal fell, methanol futures bottomed out and methanol spot market varied slightly among regions, with both ups and downs reflected. The coal trend is still empty, or it will drag the futures disk. On the premise that the supply and demand structure has not been completely improved, the upward resistance of the market is large. China methanol spot market may decline.
