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The Chinese domestic methanol price has surged 29%, or Yuan 740, since the begin
ning of this month to be assessed at a 35-month high of Yuan 3,250/mt Friday, accordi
ng S&P Global Platts data.
This surge was driven mainly by China's soaring futures market, industry sources said.
Market participants have noted increased investment into the commodity sector in
recent months, primarily via the futures market.
"I am definitely worried that hot money is flowing into the methanol futures
market,"an end-user said, referring to funding from retail investors and the financial
sector.
The actively traded May methanol futures contract on the Zhengzhou Commodity
Exchange has surged Yuan 452 since the beginning of December to Yuan 2,960/mt
as of market close Friday, ZCE data showed.
Import prices have also risen in response.
Platts CFR China methanol weekly assessment surged $20 week on week Friday to
$354/mt, a 26-month high.
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