甲醇日报-20250516

Report Summary 1. Report Information - Report Title: Methanol Daily Report [1] - Date: May 16, 2025 [2] - Researcher: Li Jin, Ren Junchi, Peng Haozhou, Peng Jinglin, Liu Youran, Li Jie, Feng Zeren [3] 2. Core Viewpoint - The methanol market is currently in a situation where supply has increased while demand remains in the off - season, resulting in a loose supply - demand pattern that suppresses prices. Along with the overall macro - commodity correction today, methanol has also followed suit. It is expected to show short - term oscillatory movements [5]. 3. Content Summary by Section 3.1 Market Review and Outlook - Futures Market Performance: The methanol weighted contract decreased in price with a reduction of 60,836 lots, and the 09 main contract reduced by 55,346 lots. The weighted contract showed an oscillatory downward trend and closed with a medium - sized negative candlestick with a short lower shadow, dropping 1.85%. Specific contracts' details are as follows: MA2501 closed at 2388 yuan/ton, down 1.53%; MA2505 at 2400 yuan/ton, down 2.04%; MA2509 at 2320 yuan/ton, down 1.90% [5][7]. - Spot Market: The average spot transaction price of methanol in Jiangsu Taicang today was 2430 yuan/ton, a decrease of 75 yuan/ton from the previous day [5]. - Supply and Demand Data: From May 9th to 15th, 2025, domestic methanol production was 1,991,055 tons, an increase of 66,720 tons from the previous week. The plant capacity utilization rate was 88.47%, a decrease of 4.01% compared to the previous period. For downstream demand, the capacity utilization rates of major products were: olefins 82.31% (down 0.58% week - on - week), formaldehyde 50.87% (up 0.33% week - on - week), acetic acid 89.71% (up 2.13% week - on - week), and MTBE 56.09% (down 5.28% week - on - week) [5]. 3.2 Industry News - Baofeng's Inner Mongolia project, the world's largest single - plant coal - to - olefins project with an annual capacity of 3 million tons of olefins, has been fully put into operation. It produces over 9,000 tons per day, sets multiple industry records with "five global largest" equipment, and 23 core technologies have reached the international top level. It has achieved full - process automated production and promoted the localization of high - end manufacturing. In the coal automatic sampling and preparation process, it has established an efficient and accurate coal quality control closed - loop system. All equipment in the project is domestically produced, with 23 key core equipment reaching the international top level [13]. 3.3 Data Overview - The report provides multiple data charts, including futures prices and warehouse receipt quantities, the price difference between MA09 and MA01, the basis of the main contract, the price difference between production and sales areas, the profits of three methanol production processes, and overseas methanol market prices, with data sources from Wind and the Research and Development Department of CCB Futures [15][18][24].