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Industry News | Time:Nov 14 2017 2:36PM
Speculative behavior increases in methanol market upon Iran earthquake
 
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A 7.8-magnitude earthquake hit the northern border region between Iran and Iraq on Sunday evening at 21:18 local time.

Many participants in methanol industry raise concerns over the the delivery of products to be exported from Iran to China. China’s methanol futures market was thus pulled up Monday, with the price of most actively traded contract rising to 2,900yuan/mt. And offers for spot methanol were lifted to above 3,000yuan/mt in Taicang, East China.

However, the rises in China’s methanol price on Monday only came as a result of speculative behaviors.

The region that was shaken by the earthquake was far away from methanol production and feedstock natural gas areas in Iran. Most methanol plants remained operating and the production was stable. In addition, the earthquake occurred in inland area, which was unlikely to cause tsunamis to affect the shipping route. The impact on port logistics was expected to be limited.
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