ASIA PETROCHEMICALS MID-YEAR MARKET OUTLOOK 2019

| July 26, 2019

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Asia’s methanol market is expected to tilt towards downside in the next six months due to a combination of factors of rising supply in the form of new capacities from Iran, soft demand and an overall dismal global economy depressed by the US-China trade war. As Asia and global economies are not forecast to recover, nor does the US-China trade war look to be resolved in the near future, buyers and end-users maintain a bearish outlook: Demand is likely to be softer this year. The two newest Iranian methanol plants - belonging to Marjan Petrochemical and Kaveh Methanol - did not run as smoothly as most players expected in the first half of 2019, but the latter plant made a breakthrough this year by achieving commercial production of on-spec methanol back in April.

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