Methanol demand has dried out in the Asian market. Booking price fell further by $18 to a new low of $317 per MT in India today. Previous quote of offerd price was in the trading range of $334-$336 per MT. Demand has been moving southwards for quite a long time now. In fact, ever since the festive season arrived, market has not been able to recover the demand.
Methanol prices in Asia declined on Thursday. Prices fell as buying trends turned further sluggish in Asian market. Our sources from China confirmed that demand was quite dry and that they were struggling to transact. In Indian market, Methanol prices fell to two months low of Rs.21 per Kg. However, importers tried to increase the price by holding material but with booking price declining further, it is expected that Methanol price could decrease further in India. CFR china prices of methanol were asserted down at the $320 per MT levels, a sharp fall of $10/ MT from Wednesday's asserted levels.
Bearish cues from china kept the downward pressure on prices of methanol ticking in other parts of Asia, including India. CFR South East Asia prices of Methanol were down at the $380 per MT levels, a day on day drop of $5 per MT.
Domestic price of Methanol was last quoted in the range of Rs.21-22 per Kg.
(This article was published on the website on November 07, 2014)
Methanol prices in Asia declined on Thursday. Prices fell as buying trends turned further sluggish in Asian market. Our sources from China confirmed that demand was quite dry and that they were struggling to transact. In Indian market, Methanol prices fell to two months low of Rs.21 per Kg. However, importers tried to increase the price by holding material but with booking price declining further, it is expected that Methanol price could decrease further in India. CFR china prices of methanol were asserted down at the $320 per MT levels, a sharp fall of $10/ MT from Wednesday's asserted levels.
Bearish cues from china kept the downward pressure on prices of methanol ticking in other parts of Asia, including India. CFR South East Asia prices of Methanol were down at the $380 per MT levels, a day on day drop of $5 per MT.
Domestic price of Methanol was last quoted in the range of Rs.21-22 per Kg.
(This article was published on the website on November 07, 2014)
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