供应压力减少 甲醇呈现区间震荡、略偏强的态势

Core Viewpoint - The domestic methanol futures market shows a strong performance, with the main contract trading at 2242.00 CNY/ton, reflecting a 1.22% increase [1] Supply - Domestic methanol operating rates and production remain high, while international methanol operating rates have dropped to low levels, leading to reduced import pressure and decreased supply pressure [2] Demand - The MTO facility of Zhejiang Xingxing has entered a shutdown phase, and some enterprises are operating at reduced capacity. The domestic methanol-to-olefins (MTO) industry continues to see a decline in operating rates, with no significant changes expected in the near term [2] Inventory - As of January 15, coastal methanol inventories stand at 1.432 million tons, which is a decrease of 30,500 tons (2.09%) from January 8, but represents a year-on-year increase of 41.5% [2] Market Outlook - The methanol market's supply-demand fundamentals are expected to improve marginally with reduced arrivals, but weak downstream profits limit the potential for significant price increases. The market is anticipated to exhibit a range-bound, slightly strong operational trend, with a focus on the actual implementation of MTO facility restart plans [2]