Asian Methanol Prices Consolidate in China■ Poor MTO sentiment■ Taiwan's High
methanol inventories■ Plenty of supply in IndiaThe Asian methanol markets saw very little
trading activity during the week ending Aug. 12. China was the exception. This
country resisted dips in its domestic market and saw consolidation in
imported spot methanol prices. Sources
said that imported spot cargoes were traded at $315-330/mt CFR China this past
week. This was little change from the previous week. There were also deals at
a 1.8%-1.9% premium over ICIS Specific Origin China prices. Although prices appear to have reached their bottom, the
fundamentals downstream were still bearish. CFR Far East Asia raffia grade polypropylene traded at
$940-$950/mt last week. PP market
sentiment was affected by recessionary fears, China’s poor housing market, and
COVID-19 China restrictions. China's power
grid was also having...