the demand is expected to recover gradually

In coastal regions, including Taicang and Ningbo market in East China and Guangdong market in South China, methanol prices all fell back. Besides from the drop in crude oil, the pullback in methanol prices was also caused by demand reduction, as operations of traditional downstream sectors such as formaldehyde plants reduced. According to some traders in South China, most downstream plants in South China usually restart intensively in H2 Feb, therefore, trading sentiment was tepid in Guangdong and Fujian in the first half of Feb. However, the demand is expected to recover gradually.