29th methanol market

On the 29th, the main methanol contract of 1309 was opened at 2,695 yuan/ton, and reached a record high again during the day. The highest was 2,728 yuan/ton in the trading day, and the lowest was 2,688 yuan/ton, which closed at 2,721 yuan/ton, up by 28 yuan from the previous trading day settlement price. / Ton, volume of 2910 hands, 5686 hand positions, an increase of 160 hands.

Spot market spot market is still slightly up, in which the port market is driven by the futures prices, but the majority of operators are watching and no new prices are available in the main northwestern production areas. On July 29th, Jiangsu canning reported 2690-2750 yuan/ton, up 30 yuan/ton, Shandong 2430-2500 yuan/ton, low-end rose 10 yuan/ton, and Guangdong 2690-2700 yuan/ton. The CFR China price rose by US$1/tonne to US$368-370/tonne.

The downstream product formaldehyde market remained stable, and Shandong and Hebei had no adjustments. The market price of acetic acid was temporarily stable and the atmosphere of negotiations in the market remained weak. The overall market for dimethyl ether was dull, changes in social demand were relatively weak, and inventory remained low.

The current price of the operating strategy has continuously risen, but the downstream performance has been relatively passive, and the resistance to receiving goods has gradually faded. However, the production has continued to be positive and some equipment maintenance has not yet been fulfilled. It is expected that the price will be mainly stable. On the 29th, the early trading price of the 5-day SMA was tested. After the 5-day moving average gained support, it gained strength and reached new heights. The overall trend was strong, but the 2730 yuan/ton line was temporarily under pressure. It is suggested that some short-term and long-term orders may only partially profit. The market outlook is concerned about 2700 yuan/ton and 2730 yuan. Yuan/ton mark, getting support or effective breakthrough are more than a single re-entry signal.