China methanol price kept firm and rose this week

China methanol price kept firm and rose this week. Methanol futures were resilient and coastal spot price hiked to 2550-2560yuan/mt as of Nov 21.

In the week ending Nov 21, China methanol tank inventory in main ports decreased slightly by 4.5kt week-on-week to 1,281.5kt, including 974.5kt in East China and 307kt in South China.

Methanol storage tank inventory in East China main ports increased 2.5kt on week to 974.5kt on Nov 21. Tank inventory was 658.5kt in Jiangsu, up 15.5kt; and 316kt in Zhejiang (Ningbo and Jiaxing), down 13kt over the same period. Methanol storage tank inventory in South China main ports decreased 7kt on week to 307kt on Nov 21. Tank inventory was 127kt in Guangdong, down 1kt week-on-week; 180kt in Fujian, down 6kt over the same period.