European imports of methanol from Russia have been halted due that country's ban on rail transit of methanol, among other "danger...
Over the pastfew days, trains carrying methanol and similar products, such as xylenes, were halted ahead of St. Petersburg and could not proceed to Finland for further export by sea to Europe, a source said.
The same approach was taken during FIFA World Cup 2018 in Russia, according to sources.
"The [rail] traffic has been halted and I clearly foresee cargo deliveries delayed," another source added.
According to the latest Eurostat data, Europeanmethanol imports from Russia were 129,241 mt in March, down from 130,178 mt in February, but up from 123,406 mt in March 2020. European methanol imports from Russia accounted for about a quarter of the total 539,712 mt imported in March, 477,599 mt in February and 454,732 mt in March 2019.
So far in June, supply and demand dynamics in Europe have been mostly balanced, with concerns of the market being undersupplied arising upon news of the Russian halt of transit.
Platts assessed June 8 the European daily methanol price at Eur300.50/mt FOB Rotterdam for the five- to 30-day laycan.