US methanol market aiming to oil, Chinese methanol-to-olefins units in Q4

The United States methanol market will be keeping an eye on modifications in oil markets as well as need from Chinese methanol-to-olefins systems in a 4th quarter that will certainly likewise include the startup of a United States plant, market sources stated today.

The market has been anticipated to be primarily quiet throughout the fourth quarter with warm demand, market resources claimed.

Spot prices will likely continue to be in the 80s-90s cents/gal for the rest of the year, a number of market resources claimed.

"We're not expecting costs to dip listed below where they were in September," a manufacturer source claimed of area pricing that fell as low as 80 cents/gal FOB USG.

A market source anticipated area prices to increase throughout the quarter based upon a current firming in the United States and European markets, but a trading source stated his overview has actually been more pessimistic than most based upon the weak point popular that has been seen recently.

Vulnerable point prices in China has actually remained to affect the United States market, with the market in China reduced on recent financial weak point, a softer energy facility and less demand, specifically from methanol-to-olefins units.

Lower crude pricing, and also particularly reduced naphtha prices, lowers the appearance of producing olefins via MTO units. The weak point on the market there have actually additionally influenced the rates of items downstream of MTO systems.

Chinese place prices has decreased 30% since a 2015 high of $335/mt CFR China in late April and early May and also has actually been down 25% since reaching $312/mt CFR China at the beginning of the 3rd quarter, assessed Friday at $232/mt CFR China.

US spot pricing for prompt-month item has actually declined 17.8% through the 3rd quarter, even with a current increase in prompt-month prices as a result of manufacturing concerns as well as tightness for timely product.

United States spot rates were last analyzed Thursday at 89.75-90.25 cents/gal FOB USG for September and 86.75-87.25 cents/gal FOB USG for October, climbing earlier in the week amidst feedstock gas supply concerns at Venezuelan manufacturer Metor.

United States methanol might additionally see much less demand throughout the winter season from downhole oil as well as gas usages, market resources claimed.

dtpmp scale inhibitor /mt year center, a joint venture in between Celanese as well as Mitsui, has been expected to launch in the 4th quarter. Market resources have expected the Clear Lake, Texas, facility to start up on October 1, and also a Celanese representative stated Friday that the unit must be functional already. In addition, Methanex has wanted to begin operations at the 1 million mt/year Geismar II center in Geismar, Louisiana, by the end of the year, the company has claimed.
23.03.2021 12:56:39
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