甲醇供需面驱动偏空 预计期货盘面以低位整理为主

Core Viewpoint - Methanol futures are experiencing a slight decline, with the main contract down by 0.67%, indicating a weak market sentiment and potential for continued low-level consolidation [1][2]. Group 1: Market Analysis - According to Wenkong Futures, the methanol market is under certain pressure, with expectations of low-level consolidation as the market returns to realistic logic after the recent bullish factors have been realized [2]. - Galaxy Futures notes that the methanol market is continuing its oscillating trend, influenced by a decline in international plant operating rates and limited gas supply in Iran, leading to some plant shutdowns [3]. - Hualian Futures highlights that the supply-demand dynamics are leaning bearish, with prices likely to be under pressure due to high domestic methanol production rates and anticipated high import levels in December [3]. Group 2: Supply and Demand Factors - Wenkong Futures mentions that port inventories remain high, with ongoing high levels of supply and a return to neutral profit margins for production enterprises [2]. - Hualian Futures points out that while traditional downstream operating rates have slightly increased, they remain low, and upcoming maintenance at Ningbo Fude is expected to further pressure demand [3]. - The overall supply pressure is expected to persist, with December methanol imports likely to remain elevated, contributing to a bearish outlook for prices [3].