Big events on China methanol industry in 2020
- China methanol markets rebounded after sharp slump in 2020. In the first half year, the outbreak of COVID-19 pandemic ripped through the economy and industry, sending crude oil nose-diving. China methanol prices plunged as well, to 1,500yuan/mt in Taicang, and 1,300yuan/mt in Inner Mongolia in Jun, recording new lows in a decade, leaving domestic methanol producers under losses. In the third quarter, the supply glut was relieved with demand picking up, driving up prices. In the fourth quarter, the increase accelerated, with methanol price rising to 2,550yuan/mt in Taicang and 2,085yuan/mt i...
Source: ccfgroup.com