China methanol price hit its high point in mid-Mar

China methanol price hit its high point in mid-Mar, but has been moving down since then. The decline in methanol price was firstly and primarily attributed to weaker demand. In Apr, global demand was expected to reduce, hit by the spread of variant Omicron. From end-Apr to May, methanol demand in East China ebbed due to MTO plants cutting operating rates or shutting for maintenance