Higher inventory in ports drives methyl alcohol price declining

2014-10-30

Up to Oct.29, methyl alcohol price in part market kept declining. Most enterprises were implementing the contract in Shananxi and Inner Mongolia. The operating rate of downstream companies was lowering, driving the poor shipment of methyl alcohol companies and Hebei as well as Shandong saw continuous drop. The future cargos price was running weakness. The buyers were lack of interest and the port market also continued to be weighed down

Source from an consultant agency said that the shipment of main companies in Shaanxi and Inner Mongolia was negative and the market sentiment was modest.

In addition, APEC summit is approaching and methyl alcohol related companies in Hebei Province will be limited operation or shut down during middle of November.

The agency believed that the higher port inventory and the weak shock of future cargos will frustrate trader’s sentiment. The methyl alcohol market in China will be in weak operation this week and some regional markets may see downtrend.

Source from : CNSS

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