There has been an oversupply of Methanol in European market. The demand has improved but oversupply has curtailed the rise in prices for methanol. The European methanol spot price mid-point softened by €0.50/tonne from the previous week.Following price drops in the US and Asia this week, Europe is the highest-priced region for methanol spot for the first time since July 2019 "There are good signs of slow demand picking up, slow degrees yes. But on the other side we do have fairly high inventory and stock globally; US, Europe and Asia, mainly in China - they have to swallow that first, before kick-off new demand," said a producer. Some players recommended that further production outages need to be carried out in order to help the market balance recover over Q3.
