FX.co ★ Methanol Futures Rise to 4-1/2-Year High

Methanol futures rose to CNY 3,370 per tonne, their highest level since October 2021, as supply disruptions in the Middle East hit key plastic feedstocks. The chemical—vital for the production of fuels, plastics, and olefins—has seen tightening availability across global markets. Iran is a major supplier to Asia, and at least half of China’s methanol imports are estimated to originate there, according to the Oil Price Information Service. Persistent disruptions have heightened fears of reduced export flows, driving prices higher worldwide. The broader chemical complex is also trading at elevated levels: polyethylene has climbed above CNY 9,000 per tonne, a four-year high; polypropylene has advanced to CNY 9,758 per tonne, its strongest level since October 2021; and synthetic rubber is approaching record territory at CNY 18,150 per tonne.