甲醇日报：醋酸开工下降，传统下游开工回落-20250530

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The short - term arrival pressure of methanol in ports remains high, port inventories continue to rise this week, and port basis is weak. Inland coal - fired methanol production is still at a high level, inland factory inventories continue to increase, and the decline in acetic acid and traditional downstream operations significantly drags down methanol demand. Methanol production profit is still on the high side [2]. Summary by Directory 1. Methanol Basis & Inter - period Structure - The report presents multiple figures related to methanol basis, including methanol basis in different regions such as Taicang, Lunan, Inner Mongolia North Line, Henan, Hebei, and Guangdong against the main futures contract, and also shows the spreads between different methanol futures contracts like 01 - 05, 05 - 09, and 09 - 01 [5][6][11] 2. Methanol Production Profit, MTO Profit, Import Profit - Figures cover Inner Mongolia coal - based methanol production profit, East China MTO profit (PP&EG type), Taicang methanol - CFR China import spread, and price differences between CFR Southeast Asia, FOB US Gulf, FOB Rotterdam and CFR China [5][23][24] 3. Methanol开工, Inventory - Data shows methanol port total inventory, MTO/P operating rate (including integrated), inland factory sample inventory, and China's methanol operating rate (including integrated) [5][31][32] 4. Regional Price Differences - It shows price differences in different regions such as Lubei - Northwest - 280, East China - Inner Mongolia - 550, Taicang - Lunan - 250, Lunan - Taicang - 100, Guangdong - East China - 180, and East China - Sichuan - Chongqing - 200 [5][35][42] 5. Traditional Downstream Profits - Figures present the production gross profits of traditional downstream products such as Shandong formaldehyde, Jiangsu acetic acid, Shandong MTBE isomerization etherification, and Henan dimethyl ether [5][46][49]