Asian Methanol: China up to $4-5/mt after COVID-19
relaxed rules- Jan Methanol ZCE up Yuan80-100/mt- Weak downstream restrictions Taiwan spot activity- Middle East buyers benefit from low Indian pricesChina's Nov. 11 relaxation of COVID-19
strict rules brought cheer to markets, and prices rose across China's entire
petrochemical industry. Yuan
84-104/mt was traded on the Zhengzhou Commodity Exchange for January methanol
futures contracts. It closed Yuan 2,556-2,436/mt on Nov. 11. These measures provided a welcome boost to Chinese markets,
which had been struggling with bearish forecasts of low export demand and slow
consumer spending. China's National Health
Commission reduced quarantine from two to eight days and removed a penalty for
airlines who brought in too many COVID-19 patients. The government will also cease tracing the'secondary
contacts" of COVID-19 victims. Despite
the positive news, discussions for spot...