LONDON (ICIS)--After a volatile year, global methanol market conditions are seeing signs of stability. Despite high coronavirus cases, the Indian market remains bullish, while China and other parts of southeast Asia are more stable. Trading has also slowed down in the US and Europe, with markets quiet in mid-Q2.
However, conditions can quickly change, as we have seen in the past year. Global market fundamentals have been heavily influenced by unplanned outages as well as extreme weather conditions and COVID-19 resurgences.
ICIS methanol editors Eashani Chavda, Kite Chong and Anna Matherne discuss the latest developments in the global market.
Methanol is primarily used to produce formaldehyde, methyl tertiary butyl ether (MTBE) and acetic acid. Smaller amounts go into production of dimethyl terephthalate (DMT), methyl methacrylate (MMA), chloromethanes, methylamines, glycol methyl ethers, and fuels applications such dimethyl ether (DME), biodiesel and the direct blending into gasoline.