The China Price Disconnect

While the global contract price surged to $740/mt, Chinese domestic spot prices are trading at a discount. This is being driven by high domestic production in coal-to-methanol units vs. restricted seaborne imports from Iran.

Downstream MTO Pull

Demand from coastal Methanol-to-Olefins (MTO) plants remains the primary floor. These units are running at maximum rates to capitalize on the lack of naphtha-based derivative competition.