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US November 2020 methanol imports increase 79% on month on tight regional supply

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US November 2020 methanol imports increase 79% on month on tight regional supply

Houston — Methanol imports into the US jumped almost 79% month on month in November 2020, data from the US International Trade Commission showed.

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The US imported 69,828 gallons of methanol in November compared with 39,030 gallons reported during October, according to ITC data.

Talks of at least two major planned turnarounds at regional production facilities contributed to limited spot supply throughout the month. At the same time, a slew of production outages in September and October left regional methanol storage levels tight, helping prop up spot prices and encourage imports.

Trinidad and Tobago sent the highest volume of methanol to the US in November, with the US taking in 30,408 gallons, representing an increase of 11,610 gallons on the month. The return of production at Methanex's Atlas facility following the conclusion of a planned turnaround was heard to have helped boost imports from Trinidad during the month.

Also during November, the US resumed imports from Equatorial Guinea, with volumes totaling 14,692 gallons, from Norway, with volumes totaling 5,671 gallons, and from Saudi Arabia, with volumes totaling 3,419 gallons. Imports from Canada also increased, rising 2,412 gallons on the month at 3,165 gallons in November.