[The methanol market in East China is now strong and the basis is risingcrashpspgames, Jiangsu Taicang spot price rose to 2,750 - 2,755 yuan/ton]
On May 13, the methanol market in East China was active, with the spot price in Taicang, Jiangsu Province being particularly significant. During noon trading, the spot price of small orders rose significantly to 2,750 - 2,755 yuan/ton, and the market had a strong wait-and-see attitude. In addition, the monthly basis has risen sharply to +130 yuan/ton, while the transaction price in late June has reached +65 yuan/ton.
In Changzhou, there is a scarcity of tradable goods, and the estimated price is 2,780 - 2,790 yuan/ton. At the same time, the reference price for delivery to Changzhou in inland areas is 2,730 - 2,740 yuan/ton.
The price of methanol in Jingjiang area was quoted as 2770 yuan/ton, with a basis as high as +195 yuan/ton. There is insufficient supply of goods in Zhangjiagang, and the price remains at 2780 yuan/ton.
Mainstream methanol merchants in Nantong have suspended quotations and watched market developments. The local price may be close to 2800 yuan/ton. The highest transaction price for first-hand merchants in Ningbo was 2,770 - 2,780 yuan/ton, and then the reporting was suspended. The price of zero-order orders in noon is expected to be around 2800 yuan/ton.
