Asian Methanol Prices Drop on Enormous Supply and Tepid
Demand- Thin
Trading in Asia- Slightly
lower demand in Southeast Asia- Mix
outlook in IndiaSources said that the Asian methanol market
ended the week softened on March 31 due to bearish fundamentals. Trade activity in Asia was
largely inactive in the week ending March 31. This was due to a lack of supply
from China, South Korea, and Southeast Asia and the seasonal low demand caused
by Ramadan in Indonesian and Malaysia. Longzhong
Information Services reported that China's coastal methanol inventory increased
10.65% over the week to 793,000mt March 29. According to trade sources, China's April supply was
expected to increase as Iranian methanol producers resumed production after a
winter hiatus. However, China's buying appetite was slow. Non-sanctioned spot cargoes of methanol were offered at
$306/mt and $310/mt...