On February 4th, it was reported that Inner Mongolia Zhuozheng Coal Chemical recently held a kick-off meeting in Xi'an for the process package of its 40,000 tons/year dimethyl oxalate-to-oxalic acid project. This project is part of a larger investment of 25.1 billion yuan aimed at extending the methanol-acetic acid value chain through deep processing and comprehensive utilization to produce high-end chemicals and new materials. Chempricehub analyzed methanol with a bullish-bearish score of 2. Inner Mongolia Zhuozheng Coal Chemical's investment of 25.1 billion yuan in the 40,000 tons/year dimethyl oxalate-to-oxalic acid project, which uses methanol as a key raw material for deep processing, will significantly increase methanol demand and drive up spot prices. Combined with the methanol MA futures market, such as the 2605 contract closing at 2,279 yuan/ton, up by 2.00, with trading volume reaching 1,037,404 lots and open interest increasing by 4,909 lots, the data indicates strong bullish sentiment in the market. The commencement of the new project reinforces expectations of demand growth, providing significant support for futures prices and underpinning an upward price trend in the future.
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