宝城期货甲醇早报-20250725

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 maintain a moderately strong and volatile trend. In the short - term, it shows a moderately strong trend; in the medium - term, it is in a volatile state; and on the day, it also presents a moderately strong trend. The main reason is that under the improved macro - factors and the support of the continuous rebound of domestic coal futures prices, the bullish sentiment outweighs the weak supply - demand structure of methanol [1][5]. 3) Summary by Relevant Catalogs Price and Trend - The methanol 2509 contract is moderately strong in the short - term, volatile in the medium - term, and moderately strong on the day, with an overall view of a moderately strong operation [1][5]. - On Thursday night, domestic methanol futures maintained a moderately strong and volatile trend, with the futures price rising slightly by 1.180% to 2494 yuan/ton, and it is expected to maintain this trend on Friday [5]. Driving Logic - Recently, the US and Japan reached a trade agreement, China and the US will hold an economic and trade meeting in Sweden from July 27th to 30th, and there are rumors that Europe and the US will also reach a tariff agreement. The risk appetite in the commodity market has significantly increased under the improved macro - factors [5]. - The continuous rebound of domestic coal futures prices supports the methanol market, overshadowing the weak supply - demand structure of methanol [5].