Wall Streets relentless decline stretched into a sixth week on Monday, fueled by new data from China that added to concerns about a global economy thats being battered by high inflation, rising interest rates and a malfunctioning supply chain.The drop has stocks approaching a bear market, Wall Streets term for a decline of 20 percent or more from recent highs, a retreat that serves as a marker of a severe shift in sentiment.

 

The trade slowdown was a product of Chinas efforts to contain a Covid-19 outbreak with lockdowns that have idled millions of workers, as well as weaker demand for Chinese-made products from the United States and Europe, economists said, and the news ricocheted through global markets: Oil prices slid more than 6 percent, dragging shares of oil producers lower, while stocks in Europe and Asia also plunged. The Euro Stoxx 600 fell 2.9 percent, and the Hang Seng Index in Hong Kong dropped 3.8 percent.

 

Investors have a long list of reasons to back away from stocks right now. Rising prices and higher interest rates are sure to hurt consumption in the United States, while the war in Ukraine and the lockdowns in China are hampering supplies of everything from food to energy, exacerbating the inflation problem.

 

Due to the impact of the epidemic, and foreign economic wars and political issues, the domestic economy has also been affected.

 

The prices of various raw materials rose and fell, some increased significantly and some fell slightly. As for methanol, the price of methanol in the mainland market decreased by 10-65 yuan on May 7. There was little fluctuation in the mainland market, but the price in the port market fell sharply. Specifically, the market quotation in the main production area fluctuates slightly, with a fluctuation range of 20 yuan / ton. The overall sales situation in the field is not bad. Some manufacturers have stopped selling. Today, the quotation in the northern area is about 2400-2450 yuan / ton, the same as yesterday. The quotation in the southern region is around 2380-2400 yuan / ton, with little change compared with yesterday. Some orders mainly implement the preliminary contract. The market price in Guanzhong region is stable. Today's quotation is around 2530-2590 yuan / ton, the same as yesterday.Changqing's quotation has stabilized to 2580 yuan / ton. At present, the 600000 ton / year coal plant of the plant is in normal operation. Today, the market price of consumer areas is reduced by a narrow margin. The market quotation in southern Shandong is around 2750-2760 yuan / ton, and the low-end price is reduced by 10 yuan / ton. The downstream just needs replenishment, and some practitioners still haven't taken action; The quotation in northern Shandong reached 2720-2750 yuan / ton, the same as yesterday, and there were few transactions in the market.


On May 7, the methanol market price index was 2723.52, down 23.67 from yesterday, with a month on month decrease of 0.86%.