- Chinese sentiment is impacted by high port inventories
and tight storage.- Indian Bearish Fundamentals





The Chinese methanol market began the week
on a cautious note due to high port inventories and limited tank space. Methanol futures traded lower as market
participants were cautious. On July 4, the actively traded September
contract on Zhengzhou Commodity Exchange settled Yuan 31-50/mt less at Yuan
2,555-2,650/mt. Spot Chinese methanol prices fell 25% from March
9th, when they were at $420-440/mt CFR China. Chinese
sources stated that although there have been many cargoes from Iran and the
Middle East, Chinese consumption has not kept up with them. CFR China
methanol was steady at $315-330/mt on Jul 4. As ample
supplies and weak sentiments continue to weigh on both CFR and ex-tank
discussions, Indian methanol prices remained soft. Ex-tank
Kandla/Mumbai offered were...