甲醇：本周供需两端分化，警惕价格承压风险

Core Viewpoint - The methanol market is experiencing differentiated changes in supply and demand, with port inventories accumulating and domestic production gradually recovering [1] Supply Side - Social inventory at ports continues to accumulate, exerting pressure on prices [1] - Domestic methanol enterprises are gradually restarting their production facilities, leading to a steady recovery in supply capacity [1] Demand Side - There are positive signs in demand, with an expected increase in external procurement of olefins, providing some support to the market [1] - However, after a previous price increase, market transactions show signs of fatigue, and buyers' willingness to purchase has decreased, leading to price fluctuations at high levels [1] Market Dynamics - Future attention should be paid to the actual procurement strength of olefins and the pace of inventory reduction, as these factors will influence market sentiment [1] - The interconnection between domestic and port markets is crucial, as inventory transfers and price transmission will affect regional market performance [1] Macro Factors - The impact of macroeconomic logic on forward contracts should not be overlooked, as macro factors may influence methanol prices through market sentiment [1] - There is a cautionary note regarding the risk of further price pressure under conditions of supply-demand looseness [1]