February 4th News — Summary of Methanol Plant Operations in Iran as of February 4th:
One of Iran ZPC's 1.65 million tons/year methanol units has been restarted and is currently operating at low capacity; the other 1.65 million tons/year unit remains shut down.
Iran Sabalan's 1.65 million tons/year methanol unit remains shut down.
Iran Kimiya's 1.65 million tons/year methanol unit remains shut down.
Iran Bushehr's 1.65 million tons/year methanol unit is operating normally.
Chempricehub's Analysis on Methanol:
Bull-Bear Score: 1.5
The article highlights the operational status of methanol plants in Iran: one of ZPC's 1.65 million tons/year units has restarted but is running at low capacity, while the other 1.65 million tons/year unit remains shut down. Sabalan and Kimiya's respective 1.65 million tons/year units are also shut down. Bushehr's unit is operating normally.
Net supply has decreased (shutdown capacity totals 4.95 million tons/year), leading to a tight supply situation that is bullish for methanol spot prices.
Combined with methanol futures data (Contract 2701):
Yesterday's settlement price was 2,329 yuan/ton, down 24 yuan.
Open interest stood at 581 lots, with a change of -1 lot.
The news of supply tightness may reverse the downward trend and push futures prices higher, indicating short-term bullish sentiment.