In the week ending Mar 17, the downward moves of East China methanol spot market seemed to be quickening, with the price shivering from 2,900-3,000yuan/mt down to the psychological 2,800yuan/mt barrier.
China’s methanol price soared in last October and has been staying on its high side since then. One of the most important driving force to methanol market is the boom of methanol-to-olefins (MTO) operation, especially the two new MTO plants – Sailboat P
China’s methanol futures and spot market tumbled this week. In East China, market sentiment was dampened as Jiangsu Sailboat Petrochemical postponed the restart of its MTO plant once again, and Fund Energy planned to close its MTO plant in Ningbo in end-
The most actively traded May methanol futures on Zhengzhou Commodity Exchange fell Thursday to close 0.86% lower from last settlement. Spot market in East China consolidated at low level, and transaction was active.