Asian methanol prices edged up 0.05% month on month in August to average $362.95/mt on a CFR China basis, Platts data showed.
The August price was down $14.93/mt or 4% from a year earlier.
The flattish showing comes despite higher discussions in H1 August, as prices quickly lost ground in the later half of the month.
In H2 August, discussions thinned amid directionless trade and robust inventory levels in East China. Increased domestic production also supported supply, resulting in lower demand for imports.
A steep drop in the methanol contract on the Zhengzhou futures exchange in the last week of August added to a lack of confidence in the market.
CFR China was discussed at $364-367/mt in the first half of August, but gradually sank as the month progressed. By August 31, the CFR China price had fallen to $356/mt.
