2009
08.31
08.31
MEOH increased its contract prices for September with US prices increasing
by $40/t m-o-m to $279/t, while Asian prices increased to $280/t, up $15/t
m-o-m. In the spot market this past week, Asian prices rose $3/t, European
prices increased $16/t and US prices jumped $20/t.
These higher prices will likely induce the restart of higher
Chinese coal based capacity (close to 5mt/yr of Chinese capacity shutdown;
uneconomic at $260-$285/t methanol) and hence cap pricing.
The rise in methanol price is more a reflection of ongoing
production issues (Iran/Malaysia) and record Chinese methanol imports
(Chinese methanol net imports rose by 3.2Mt y-o-y in H1/09) and less from
increase in demand (i.e. formaldehyde demand driven by housing).
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