The April Argus European monthly methanol contract price (CP) was assessed at €567.5/t 30 March 2022, up by €72.5/t from €495/t in March.
Prices have been supported by demand for methanol of non-Russian origin, which has increased since the onset of the Russia-Ukraine conflict. Russia is one of the largest suppliers of methanol to Europe, having exported around 1.4mn t to the EU in 2021 based on GlobalTradeTracker/Eurostat data.
Rotterdam is relatively well-stocked for the time being. Russian methanol is not sanctioned, although sources said earlier this month there was next to no interest from a majority of market participants in Europe in accepting Russian product into tank.
Russian methanol exporters have eyed new export markets, including India and China, despite comparatively high freight rates.
Methanol demand in Europe is stable and relatively strong at present, market sources said. But buyers in several derivative segments raised concerns this month about the risk of some consumer demand erosion, given rising inflation and high energy prices.
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