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MEG futures EG2105 contract broke 5,900yuan/mt and spot price stood around 6,400yuan/mt, leaving spot/futures spread at quite high level. With the rapid increase in MEG price, coal-based MEG cash flow also improved.
After the China market returned from Chinese New Year holidays on February 18, coal chemical producers were active to run at high rate. Coal-based MEG cash flow improved despite rising coal prices. For a 200kt/year unit, the cash flow would reach around 1,700-1,750yuan/mt recently. (The cost here includes freight rate and discount, excludes depreciation and financial expenses.)
Inner Mongolia Tongliao GEM Chemical shut its 300kt/year coal-based MEG unit on February 26 for around one week maintenance. Xinhang Energy has restarted its 100kt/year line of its 400kt/year coal-based unit days earlier than original plan. Operating rate of coal-based MEG units was around 64.9% on Feb 25, up 6.1% from the pre-holiday level of 58.8%.
Dealmaking Slows Across Africa, but Post-pandemic Opportunities Look Interesting
Deal making activity in sub-Saharan Africa dropped in terms of both volume and value in 2020, compared to 2019. As the continent readies itself for post-pandemic recovery, the opportunities presented by free trade across Africa as well as the post-pandemic focus on technology, healthcare and renewable energy, will be key factors in attracting valuable mergers and acquisition activity to the region.
Deal making activity in sub-Saharan Africa dropped in terms of both volume and value in 2020, compared to 2019. As the continent readies itself for post-pandemic recovery, the opportunities presented by free trade across Africa as well as the post-pandemic focus on technology, healthcare and renewable energy, will be key factors in attracting valuable mergers and acquisition activity to the region. Wildu du Plessis, Head of Africa at Baker McKenzie, and Morne van der Merwe, Managing Partner and Head of the C
Deal making activity in sub-Saharan Africa (SSA) dropped in the second half of 2020 (H2 2020), when compared to the second half of 2019 (H2 2019) and year-on-year, deals were also down in both volume and value compared to 2019. As the continent gears up for post-pandemic recovery in 2021, the opportunities presented by free trade across the continent, foreign investment opportunities due to new partnerships and trade relationships, as well as the post-pandemic focus on technology, healthcare and renewable energy, will be key factors in attracting valuable mergers and acquisition (M&A) activity to the region.
Further, South Africa’s deal volume and value both dropped in 2020, with the industrials and healthcare sector attracting the biggest investments. Ghana stood out as a country that attracted more and higher value M&A deals in 2020 than it did in 2019, with China being the primary inbound investor in the country. And Kenya recorded a good increase in deal value for 2020, althou
Deal making slows across Africa but post-pandemic opportunities look interesting
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China methanol markets rebounded after sharp slump in 2020. In the first half year, the outbreak of COVID-19 pandemic ripped through the economy and industry, sending crude oil nose-diving. China methanol prices plunged as well, to 1,500yuan/mt in Taicang, and 1,300yuan/mt in Inner Mongolia in Jun, recording new lows in a decade, leaving domestic methanol producers under losses. In the third quarter, the supply glut was relieved with demand picking up, driving up prices. In the fourth quarter, the increase accelerated, with methanol price rising to 2,550yuan/mt in Taicang and 2,085yuan/mt in Inner Mongolia in Dec.