Limited Buying Drags Down Domestic Methanol Price
Methanol price continued losing grounds since last Friday due to mixed sentiments in the Indian markets. A large proportion of India’s Methanol is committed to serving the formaldehyde sector which is still operating at lower levels due to lesser buying. A trader however remarked that an unplanned plant outage at a Middle East supplier’s plant could support Methanol prices to some extent in the coming months. Methanol Ex-Depot Mumbai daily bulk prices tumbled down by 3.7 per cent to $348/mt on 10th of this month, with local traders and manufacturers still managing to balance out the demand/supply fundamentals.