MMSA Methanol Notes – 2020-11-03
Russian Apparent Methanol Demand – Two Consecutive Years of Shrinkage
Russia, a large factor in global methanol markets, continues to be impacted by the global pandemic. Russian access to ample and low USD cost natural gas helps allow exports roughly half of its total methanol production, primarily to EU member states. While early 1H 2020 methanol production remained strong, leading to record exports, production has fallen off through November, signs of both troubled domestic demand and limited export value as prices decay.