On February 2, methanol producers in Shandong raised their quotations: Mingquan Group (formerly Shandong Mingshui) increased its methanol quotation by 20 yuan/ton to 2,240 yuan/ton for cash settlement ex-factory self-pickup, with its 600,000-ton coal-to-methanol plant operating normally. Shandong Lianmeng raised its methanol quotation by 20 yuan/ton to 2,240 yuan/ton for cash settlement ex-factory pickup, with stable plant operations.
PriceSeek analysis of methanol, with a long-short score of 1: In Shandong, Mingquan Group and Shandong Lianmeng raised their methanol quotations by 20 yuan/ton to 2,240 yuan/ton for cash settlement, with stable plant operations, reflecting improved market demand and enhanced confidence on the supply side, which is favorable for spot prices. Considering the recent closing price of the methanol futures main contract 2605 at 2,320 yuan/ton and the settlement price at 2,344 yuan/ton, along with an upward trend in price changes (+9 yuan), the increase in spot quotations may further support the upward movement of futures prices, generally constituting a mild positive for the methanol market.
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