宝城期货甲醇早报-20250529

Report Summary 1) Report Industry Investment Rating No relevant content provided. 2) Core View of the Report - The methanol futures 2509 contract is expected to run weakly, with short - term, medium - term, and intraday views being "oscillation", "oscillation", and "oscillation weakly" respectively [1][5] 3) Summary by Related Catalogs Variety Morning Meeting Minutes - For methanol 2509, short - term view is oscillation, medium - term view is oscillation, and intraday view is oscillation weakly, with a reference view of weak operation due to a weak supply - demand structure [1] Main Variety Price Market Driving Logic - Commodity Futures Energy and Chemicals Sector - As macro - positive factors are digested, methanol futures prices are dominated by a weak supply - demand structure. Domestic coal - to - methanol plants are restarting, increasing supply pressure to a record high. Downstream demand improvement is limited, and the profit of methanol - to - olefin futures has declined, which is unfavorable for port inventory reduction. With an expected increase in external imports, the pressure of social inventory accumulation will rise. On Wednesday night, the domestic methanol futures 2509 contract showed an oscillation - weakly trend, closing 1.40% lower at 2178 yuan/ton. It is expected to maintain an oscillation - weakly trend on Thursday [5]