Global methanol markets expected to be robust in 2019: Proman CEO

While a downtrend in methanol spot prices in both Europe and Asia has impacted market sentiment in the final quarter of 2018, 2019 is expected to be a good year for the methanol market, according to Proman CEO David Cassidy.

According to Platts data, methanol spot prices in Asia have declined significantly this month, with the CFR China market last assessed at $290/mt Friday, down from $387/mt at the beginning of November.

Cassidy said that despite political uncertainty and ongoing issues including Brexit and its impact on the UK pound, overall confidence in the methanol market remains strong.

Global methanol capacity has increased with new plants coming online this year, but market participants expect global demand from both traditional and energy applications to grow 3-4% year on year.

In the Asian market, industry sources earlier predicted China's Connell Chemical's methanol-to-olefins unit, based in the Northeast province of Jilin, had plans to begin operations in early 2019. The 300,000 mt/year MTO is expected to consume 1 million mt/year of methanol.

News No: 2695
Date: 2018/11/23 - 20:48
News Source: S & P Global Platts

methanol  Proman  Connell Chemical  Brexit  CFR 


Leave a Comment:


Turkey needs cheaper offers to sell into Asean

A Chinese rebar deal concluded today into south-east Asia at $480/t fob, on a theoretical weight basis, indicates that Turkish mills would need to reduce their offers by at least $15/t to attract south-east Asian business.

Asia petrochemicals outlook, w/c Nov 19

Supply of propylene, benzene and styrene monomer was expected to remain ample in the Asian petrochemical market this week, while the US-China trade tensions continues to cast a pall over high density polyethylene as orders for toys, plastic bags and packaging material are canceled.

EU HRC: First 2019 automotive deals done as rollovers

Northwest European steel mills have concluded their first 2019 deals with automotive buyers at a rollover from this year's prices, following protracted negotiations.

Hammond: 'Brexit deal dividend' would deliver economic boost

The chancellor has said that Britain could see an economic boost if it successfully negotiates a Brexit deal with the European Union.

Brexit poses threat to emergency oil stock system: fuel lobby group

The UK should consider setting up a centralized stock holding agency to combat the risk posed by Brexit to collaboration with the EU on holding emergency oil stocks, the UK's fuel lobby group has said.

Bids for CIS steel billet slip, offers slow to follow

Bids for steel billets of Commonwealth of Independent States origin are notably lower than offers this week.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners