Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Report's Core View - The methanol 2509 contract is expected to run weakly, showing a sideways - weak trend in the short - term, sideways in the medium - term, and a sideways - weak trend intraday [1][5] - The imbalance between supply and demand, with increasing supply and decreasing demand, is the main factor leading to the weak operation of methanol. However, the possible new round of supply - side reform may boost domestic commodity futures [5] 3. Summary According to Related Catalogs 3.1 Price and Trend - On Wednesday night, domestic methanol futures maintained a sideways - weak trend, with the futures price slightly down 0.59% to 2362 yuan/ton. It is expected that on Thursday, the domestic methanol futures 2509 contract may maintain a sideways - weak trend [5] 3.2 Market Logic - Domestically, methanol production capacity is continuously released, increasing internal supply pressure. Overseas shipments are constantly arriving, increasing external supply expectations. Ports are entering a inventory - building cycle, while downstream demand is entering the off - season, resulting in a looser supply - demand structure [5] - After the previous sharp correction, the bearish sentiment has been released. The recent high - level meeting in China has set the tone for governance of low - price disorderly competition and promotion of the orderly withdrawal of backward production capacity, and a new round of supply - side reform may boost domestic commodity futures [5]
宝城期货甲醇早报-20250717
Bao Cheng Qi Huo·2025-07-17 01:43