Summary Post on the Methanol Market Conditions and Prices in February 2017

Methanol prices as of February 3, 2017: http://www.chemcp.com. According to China Chemical Products Network, the prices are as follows: Shanxi Jiantao Lubao industrial-grade methanol at 2500; Jiangsu Yizhou Coal Coking industrial-grade methanol at 2710; Jiangsu Hengsheng industrial-grade methanol at 2720; Shanxi Coking industrial-grade methanol at 2370; Shandong Lianmeng industrial-grade methanol at 2670 (in cash); Shandong Yankuang Group industrial-grade methanol at 2650, with normal delivery; Anhui Linquan industrial-grade methanol at 2850 (on credit); Shandong Mingshui Dahuahua industrial-grade methanol at 2600 (in cash); Hebei Zhengyuan Chemical industrial-grade methanol at 2550 (on credit); Daqing Oilfield industrial-grade methanol at 3000, ready for shipment; Heilongjiang Zhongmei Longhua industrial-grade methanol at 3050; Shandong Binzhou Xintianyang methanol at 2900; Henan Xinlianxin industrial-grade methanol at 2600; Shanxi Datuhé Coking industrial-grade methanol at 2320; Shaanxi Shenmu Chemical industrial-grade methanol at 2500; Inner Mongolia Rongxin Chemical industrial-grade methanol at 2250; Hebei Shijiazhuang Jinshi industrial-grade methanol at 2520; Shanxi Yangmei Fengxi industrial-grade methanol at 2600, with satisfactory delivery; Shaanxi Changqing Energy industrial-grade methanol at 2400, ready for shipment; Hebei Tangshan Zhongrun industrial-grade methanol at 2700, widely accepted in the local area; Heilongjiang Qitaihe Jiwei industrial-grade methanol at 2700; Heilongjiang Jianlong Steel industrial-grade methanol at 2600, ready for shipment; Heilongjiang Yidaxin industrial-grade methanol at 2700; Shaanxi Weihe Chemical methanol at 2420, local price; Heilongjiang Baotailong Coal Methanol at 2800; Dalian Dahuahua methanol at 3000, available only for local sales; Sichuan Chuanwei industrial-grade methanol at 2700; Sichuan Dazhou Steel industrial-grade methanol at 2750; Chongqing Wansheng methanol at 2900, not available for export at present; Shandong Tengzhou Shenglong industrial-grade methanol at 2670, ready for shipment; Shandong Linyi Hengchang industrial-grade methanol at 2730, with normal delivery; Guizhou Jinchiji Chemical industrial-grade methanol at 3100; Hubei Sanning industrial-grade methanol at 2850, with some products used internally

Analysis of methanol price trends on February 3, 2017: http://www.chemcp.com. As of February 3, 2017, according to China Chemical Products Network, the average ex-factory prices in central and eastern Shandong remain stable at 2,550–2,650 yuan per ton, while traders in Zibo, Dongying and surrounding areas are quoting prices around 2,670 yuan per ton. In the current dynamic market, supply is mainly based on previous contracts; no new prices have been set for the northwest region, so the previous pricing remains in effect. Most parties are adopting a wait-and-see attitude, and prices across the entire region remain **. Some quotes for methanol at Taicang port in Jiangsu are around 3,030–3,060 yuan per ton, subject to negotiation. The mainstream quotes in Nantong are around 3,060–3,080 yuan per ton, while sporadic quotes in Jiangyin and Changzhou range from 3,080–3,090 yuan per ton. Sporadic quotes for methanol at Ningbo Port are around 3,140 yuan per ton, with moderate trading volume. Dynamic futures are fluctuating; at the beginning of the period following the holiday, there are few offers in the spot market. In Taicang this morning, some transactions took place at around 3030–3050 yuan per ton. In the Guangdong ports of South China, the quoted prices for methanol by major suppliers are around 3,010–3,030 yuan per ton; there were a few transactions in the morning at prices of around 3,000–3,010 yuan per ton. There are few offers in the dynamic methanol market, as most suppliers have not yet resumed business operations. The prevailing price for shipments in Anhui region is around 2,790–2,800 yuan per ton. Trading in the dynamic methanol market is sluggish; major companies are operating normally, while there is a strong atmosphere of caution among manufacturers. In the northern Jiangsu region, the prevailing ex-factory price is around 2,680–2,700 yuan per ton. The overall methanol market is on a downward trend; some producers have not yet returned to market, resulting in a sluggish market atmosphere. In Hubei region, the prevailing negotiation price is 2,800–2,850 yuan per ton; quotes come from lower-tier traders in Wuhan, while those from higher-tier manufacturers represent the factory prices. There are no quotes available for the Hunan region at the moment, with most traders choosing to wait and observe. The methanol market in the dynamic Two Lakes region remains stable for now. The overall methanol market in Henan region remains stable, with local methanol producers selling their product at around 2,450–2,500 yuan per ton. The prevailing quotes from traders in the Luoyang area are around 2,500–2,530 yuan per ton, with a strong atmosphere of caution in the market following the holiday. The prevailing selling price for methanol produced from coal and coke oven gas in Heilongjiang is around 2,500–2,550 yuan per ton, with the product mainly sold locally and in Jilin. Affected by the situation in Tangshan, the quotes provided by major traders in Liaoning are around 2700–2800 yuan per ton. The shipment volume of dynamic enterprises is average; downstream purchases are mainly based on demand, with the market playing a key role. The overall methanol market in the southwest region remains stable; the main selling price for manufacturers in Sichuan and Chongqing is around 2,700–2,750 yuan per ton, with most manufacturers adhering to their contracts. Most businesses in Sichuan and Chongqing are adopting a wait-and-see attitude; some are willing to purchase at around 2,750 yuan per ton, including taxes. In the southern and southeastern parts of Shanxi province, the ex-plant price of methanol at some of the major manufacturers ranges from 2300 to 2450 yuan per ton, while the price in Jincheng is 2300 to 2350 yuan per ton. The current spot price for shipping from Linfen is around 2,380 yuan per ton ； In Changzhi, the price is around 2,420–2,450 yuan per ton; on the first day after the holiday, many players prefer to wait and observe. In the Hebei region, the selling price for enterprises in Shijiazhuang and its surrounding areas is around 2470–2520 yuan per ton, while the price for goods sold through trading channels is 2500–2550 yuan per ton. In Tangshan, the standard selling price is around 2650–2700 yuan per ton. Some quotes for methanol at Taicang Port in Jiangsu range from 3030 to 3050. The mainstream offering price in Nantong is around 3,060–3,080 yuan per ton ； Some quotes in Changzhou and Jiangyin are around 3,080–3,090 yuan per ton ； The major suppliers of methanol at Ningbo Port have not yet submitted any quotes. Dynamicly, futures prices are rising; quotes from port traders remain firm. The price for large-scale sales in March is 3,050 yuan per ton. On the first day after the holiday, some traders had not yet returned to the market, leaving the market relatively sluggish.

Analysis and forecast of domestic methanol price trends on February 3 http://www.chemcp.com February 3, 2017, China Chemical Products Network: After the holiday, several production facilities resumed operations and started shipping products, resulting in an increase in domestic supply; traditional downstream demand has recovered, with purchases being made based on actual needs. There are many maintenance activities among the olefin manufacturers at ports, and the futures market is experiencing only slight fluctuations; the port market is also characterized by narrow-range swings. As some market participants have not yet returned to the market, trading in the methanol market remains sluggish. Northwest Market: Currently, most orders are based on contracts from before the New Year; shipments are moderate, and most manufacturers have not yet announced new prices. Bohai Rim region: Demand from downstream areas is expected to increase after the New Year, but currently orders are mainly based on prior contracts; prices remain **, although there is a slight decrease in southern Shandong during the holiday period. Port area: Inventory levels are low in this region, but there are many maintenance facilities downstream, resulting in moderate market activity. Forecast: The domestic methanol market is expected to remain stable overall, with slight declines in some areas; currently, many are waiting to see the new prices.

Methanol prices as of February 4, 2017: http://www.chemcp.com. According to China Chemical Products Network, the prices are as follows: Jinshi Methanol in Shijiazhuang, Hebei – industrial grade, price: 2520; Datuhe Coking in Shanxi – industrial grade, price: 2320; Lianmeng in Shandong – industrial grade, price: 2670 (cash payment); Tianlu New Energy in Dingzhou, Hebei – industrial grade, price: 2600; Daqing Oilfield – industrial grade, price: 3000 (ex-factory); Zhengyuan Chemical in Hebei – industrial grade, price: 2550 (under credit terms); Zhongmei Longhua in Heilongjiang – industrial grade, price: 3050; Dahuahua in Mingshui, Shandong – industrial grade, price: 2600 (cash payment); Coking in Shanxi – industrial grade, price: 2370; Xinlianxin in Henan – industrial grade, price: 2600; Jinniu Xuyang in Hebei – methanol, price: -2500 (ex-factory); Baotailong Coal in Heilongjiang – industrial grade, price: 2800; Jianlong Steel in Heilongjiang – industrial grade, price: 2600 (ex-factory); Yidaxin in Heilongjiang – industrial grade, price: 2700; Linhuan Coking in Anhui – industrial grade, price: 2800 (under credit terms, ex-factory); Jinfeng in Shanxi – industrial grade, price: 2350 (high-purity methanol, under credit terms, ex-factory); Yizhou Coal Coking in Jiangsu – industrial grade, price: 2680; Wansheng in Chongqing – methanol, price: -2900 (not for export at present); Hengchang in Linyi, Shandong – industrial grade, price: 2720 (normal shipments); Yankuang Group in Shandong – industrial grade, price: 2630 (normal shipments); Hengsheng in Jiangsu – industrial grade, price: 2700; Qitaihe Jiwei in Heilongjiang – industrial grade, price: 2700; Hebi Coal and Electricity in Henan – industrial grade, price: 2600; Dahuahua in Dalian – methanol, price: -3000 (for local sales only); Chuanwei in Sichuan – industrial grade, price: 2800; Jinchи Chemical in Guizhou – industrial grade, price: 3100; Xinneng Phoenix in Shandong – industrial grade, price: 2700 (stable shipments); Shenglong in Tengzhou, Shandong – industrial grade, price: 2650 (ex-factory)

Analysis and forecast of domestic methanol price trends on February 4th: http://www.chemcp.com, February 4, 2017. China Chemical Products Network. Domestically, the methanol market is characterized by a relatively sluggish trading atmosphere; many traditional downstream industries are still shut down and have not yet resumed operations. Market demand remains driven by actual needs, with weaker price trends in certain areas such as southern Shandong. Currently, some players in the methanol market have not returned to operations, leaving the market in a state of wait-and-see; futures prices are fluctuating, and there have been slight increases in the port market. However, due to the numerous maintenance activities carried out by olefin manufacturers at ports, overall transaction volume in the market remains moderate. Northwest region: New prices from various manufacturers have not yet been announced; contracts remain the main basis for transactions. As traders return to the market after the holiday, the situation remains stable for now. Bohai Rim region: Traders in this area are adopting a wait-and-see attitude; manufacturers have reduced their prices, downstream purchases have resumed on a full scale driven by essential demand, and transaction activity in the market remains weak. Port area: Inventory levels are low in this region, and futures prices are fluctuating; although demand from downstream sectors is on the rise, prices at some ports have increased slightly. Forecast: The domestic methanol market is expected to see a decline in inland areas, while there may be slight increases in port areas.

Thank you, OP; it’s good to have a stable market situation as well

Analysis of methanol price trends on February 6, 2017: http://www.chemcp.com. As of February 6, 2017, according to China Chemical Products Network, the mainstream retail prices for enterprises in southern Shandong remain stable at 2630–2650 yuan per ton; contract prices are slightly lower. Traders offering delivery to Linyi without invoices quote prices around 2580–2600 yuan per ton. During maintenance of olefin plants in dynamic regions, there is still little procurement by traditional downstream users; upstream manufacturers’ inventories are rising, and industry players remain cautious, leading to a downward trend in the market. The mainstream ex-factory prices for enterprises in central and eastern Shandong range from 2,650 to 2,680 yuan per ton, while the transaction prices among traders in Zibo, Dongying and surrounding areas are around 2,650 to 2,700 yuan per ton. In areas where the new dynamic northwest prices have not yet been announced, traders generally stick to their previous quotes; freight costs have seen a slight decline. Demand from downstream buyers is satisfactory, and the market is currently characterized by a wait-and-see attitude. The main companies in Fujian region quote prices of 3,100–3,150 yuan per ton. The dynamic methanol market remains stable, with suppliers at Quangang and Xiamen ports offering occasional quotes of 3,100 yuan per ton. Some quotes/offer discussions for methanol at Taicang port in Jiangsu are around 3,020–3,050 yuan per ton. The mainstream quotes in Nantong are around 3,040–3,060 yuan per ton, while sporadic quotes in Jiangyin and Changzhou range from 3,060–3,070 yuan per ton. The quotes from the main suppliers of methanol at Ningbo Port are around 3,140–3,150 yuan per ton, with moderate trading activity. Dynamic futures prices are rising, and quotes from merchants at ports in East China remain strong; some transactions in Taicang this morning were made at around 3020–3040 yuan per ton. The quotes from major suppliers of methanol at ports in South China and Guangdong are around 3,010–3,030 yuan per ton. The dynamic methanol market remains relatively stable, with occasional transactions in the morning at around 3,000–3,020 yuan per ton. The methanol market in the southwest region remains strong; the main selling price for manufacturers in Sichuan and Chongqing is around 2,750–2,800 yuan per ton, with most manufacturers adhering to their contracts. Most businesses in Sichuan and Chongqing are adopting a wait-and-see attitude; some are willing to purchase at around 2,800 yuan per ton including taxes, and market transactions remain sluggish. The ex-warehouse acceptance price in Anhui region is around 2,780–2,800 yuan per ton. The dynamic methanol market remains relatively stable; major manufacturers are operating normally, while there is a strong atmosphere of caution among producers. The prevailing selling price for methanol produced from coal and coke oven gas in Heilongjiang is around 2,500–2,550 yuan per ton, with the product mainly sold locally and in Jilin. Affected by the situation in Tangshan, the quotes provided by the main traders in Liaoning are around 2750–2800 yuan per ton. The shipment volume of dynamic enterprises is average; downstream purchases are mainly based on demand, with the market playing a key role. In Hubei region, the prevailing negotiation price is 2,800–2,850 yuan per ton; quotes come from lower-tier traders in Wuhan, while those from higher-tier manufacturers represent the factory prices. The prevailing negotiation price in Hunan is between 2,800 and 2,850 yuan per ton, with quotes mainly from traders in Changsha; after the holiday, there is a strong tendency among industry players to wait and observe. The methanol market in the dynamic Two Lakes region remains stable for now. The overall methanol market in Henan region has seen an increase, with local methanol producers selling their product at around 2600–2650 yuan per ton. The prevailing quotes from traders in the Luoyang area are around 2,450–2,500 yuan per ton, with the market adopting a wait-and-see attitude after the holiday. The mainstream ex-factory price for enterprises in northern Jiangsu is around 2,680–2,700 yuan per ton. The overall methanol market is dynamic; production by these enterprises remains stable, and sales are mainly directed at contract clients. In the southern and southeastern parts of Shanxi province, the ex-factory price of methanol at some of the major manufacturers ranges from 2350 to 2530 yuan per ton, while the price in Jincheng is between 2350 and 2450 yuan per ton. The current spot price for shipments from Linfen is around 2400–2420 yuan per ton ； The price in Changzhi is around 2,510–2,530 yuan per ton. In the Hebei region, the selling price for enterprises in Shijiazhuang and its surrounding areas is around 2,530–2,560 yuan per ton, while the price for goods sold through trading channels is 2,550–2,580 yuan per ton. In Tangshan, the standard selling price is around 2,680–2,700 yuan per ton. New prices for dynamic northwest products have not been announced yet; most traders are waiting to see what happens. Meanwhile, purchasing activity downstream has seen a slight increase, leading to higher prices. There has been little trading in the Wen’an area, so no prices have been set for now.

Methanol prices as of February 7, 2017: http://www.chemcp.com. According to China Chemical Products Network, the prices are as follows: Hebei Dingzhou Tianlu New Energy – industrial-grade methanol at 2600; Henan Hebi Coal and Electricity – industrial-grade methanol at 2650; Heilongjiang Baotailong Coal Methanol – industrial-grade methanol at 2800; Shanxi Coking – industrial-grade methanol at 2420; Shanxi Jinfeng – industrial-grade methanol at 2450 (price includes acceptance terms); Shanxi Anze Yongxin – industrial-grade methanol at 2450; Heilongjiang Qitaihe Jiwei – industrial-grade methanol at 2650; Hebei Shijiazhuang Jinshi – industrial-grade methanol at 2570; Shandong Yankuang Group – industrial-grade methanol at 2630, with regular shipments; Shandong Binzhou Xintianyang – methanol at -2900; Shandong Tengzhou Shenglong – industrial-grade methanol at 2650, with prices including delivery costs; Shandong Linyi Hengchang – industrial-grade methanol at 2720, with regular shipments; Jiangsu Yizhou Coal and Coking – industrial-grade methanol at 2680; Jiangsu Hengsheng – industrial-grade methanol at 2700; Shanxi Jiantao Lubao – industrial-grade methanol at 2560; Heilongjiang Jianlong Steel – industrial-grade methanol at 2650, with prices including delivery costs; Heilongjiang Yidaxin – industrial-grade methanol at 2700; Cangzhou China Railway Coking – industrial-grade methanol at 2660, with prices including delivery costs; Dalian Dahuahua – methanol at -3000, available only for local sales; Chongqing Wansheng – methanol at -2900, not available for export at present; Sichuan Chuanwei – industrial-grade methanol at 2800; Guizhou Jinchiji Chemical – industrial-grade methanol at 3100; Hubei Sanning – industrial-grade methanol at 2850, with some products used internally; Anhui Haoyuan – industrial-grade methanol at 2800, with prices including acceptance terms; Shandong Xinneng Phoenix – industrial-grade methanol at 2670, with stable shipments; Shanxi Datuhe Coking – industrial-grade methanol at 2380; Shaanxi Xianyang Chemical – methanol at -2390, with prices including delivery costs; Hebei Jinniu Xuyang – industrial-grade methanol at 2550, with prices including delivery costs; Shandong Mingshui Dahuahua – industrial-grade methanol at 2700, payable in cash; Daqing Oilfield – industrial-grade methanol at 3000, with prices including delivery costs; Heilongjiang Zhongmei Longhua – industrial-grade methanol at 3050; Shandong Lianmeng – industrial-grade methanol at 2700, payable in cash; Hebei Zhengyuan Chemical – industrial-grade methanol at 2620, with prices including acceptance terms; Shanxi Yangmei Fengxi – industrial-grade methanol at 2600, with satisfactory shipment conditions; Henan Xinlianxin – industrial-grade methanol at 2650