China methanol futures drop by 2.3% on bearish sentiment

SINGAPORE (ICIS)–China’s methanol futures fell by 2.3% on Monday on bearish sentiment ahead of the Lunar New Year holiday.

The May 2018 methanol futures, the most actively traded contract at the Zhengzhou Commodity Exchange (ZCE), closed at yuan (CNY) 2,722/tonne, down by CNY64/tonne compared with the previous settlement on 9 February.

Around 4.4m tonnes of methanol for delivery in May 2018 were traded on Monday, according to ZCE data.

ICN