- East China prices surge Yuan 137-150/mt- Market structure in backwardation till Nov- India Thin discussions





Chinese methanol prices rose on Sept. 29
due to an acute shortage in prompt spot supply, low inventory, and restocking activity
before the weeklong holidays. Spot
cargo prices for September 30 delivery rose from Yuan 200-250/mt to Yuan
3,020-3.050/mt by Sept. 29. China's market
structure, which is typically a contango, was flipped to backwardation earlier
this week. This was initially for deliveries Oct. 1-10, and Oct. 11-20. The entire structure was in reverse until the end of November
on Sept. 29. China's bullish outlook for
the near term was expected following a few Iranian methanol producers
encountering feedstock and technical problems and stopping production in August
and September to make repairs. Sources
said that although most Iranian methanol producers have...