Platts.com report that the Asian methanol price is expected to continue down in April.

Since the beginning of March the Asian methanol prices have fallen $115/MT to be assessed at $345/MT CFR China Tuesday.

The expected fall is said to be due to a ramp up in production in Southeast Asia and an influx of Iranian methanol to the market.

Petronas was thought to have sold around 90,000 MT of methanol during March for delivery into China in the first half of April, and pushing out another 100,000 MT to the US Gulf Coast on favourable arbitrage economics.

"Shipping is an issue. Most vessels are being used by them [Petronas] as they need to move out cargoes every day, [which are] all lined up until April and [they are] now already looking at May loading [vessel] fixing," a Singapore-based trader said according to Platts.com. .

According to traders, the total import volume of methanol into China in April is estimated to exceed 300,000 MT, with the vast majority expected to be of Iranian origin.

Read the original article at Platts.com [Direct link]