China's methanol market was generally muted after the seven-day Spring Festival break ending February 21 under high stocks and stagnant demand.
Stocks of methanol in production bases ramped up over the holiday following a decrease of trucks to load the material, sources said.
The inventories also rose sharply at eastern ports including Taicang and Lianyungang, with concentrated arrivals of methanol.
As of 17:00 p.m. February 22, there were 0.37 million tonnes of methanol stocks in eastern region (excluding that in downstream factories), a surge of 27.6% from February 8.
North China saw a 15 yuan/t pullback in methanol price to 2,545 yuan/t on February 22, as firms vied to sell stocks.
The spot methanol market improved in south China, spurred by low supply and firm futures price.
(Writing by Jessie Jia Editing by Harry Huo)
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