甲醇日报：基本面变化不大，基差弱势盘整-20250806

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The fundamental situation of methanol has not changed significantly, and the basis is weakly consolidating. The port is experiencing inventory accumulation, with the basis continuing to be weak, while the inland is stronger than the port. The overall pattern is that the inland market is more robust [2]. 3. Summary by Relevant Catalogs 3.1 Methanol Basis & Inter - period Structure - The report presents multiple figures related to methanol basis and inter - period spreads, including methanol basis in different regions (such as Taicang, Lunan, Inner Mongolia North Line, etc.) and inter - period spreads between different methanol futures contracts (e.g., MA09 - 01) [6][10][23] 3.2 Methanol Production Profit, MTO Profit, Import Profit - Figures show the profit situation of methanol production (e.g., Inner Mongolia coal - based methanol production profit), MTO profit (e.g., East China MTO profit of PP&EG type), and import profit (e.g., Taicang methanol - CFR China import spread) [25][31] 3.3 Methanol开工, Inventory - Data on methanol port total inventory, MTO/P开工 rate (including integrated units), inland factory sample inventory, and China's methanol开工 rate (including integrated units) are presented [34][36] 3.4 Regional Spreads - The report provides information on regional price differences, such as the spreads between different regions like Lubei - Northwest, Taicang - Inner Mongolia, and Guangdong - East China [38][49] 3.5 Traditional Downstream Profits - Figures illustrate the production profits of traditional downstream products, including Shandong formaldehyde production profit, Jiangsu acetic acid production profit, Shandong MTBE isomerization etherification production profit, and Henan dimethyl ether production profit [54][56] 4. Strategies - Unilateral: Adopt a wait - and - see approach [3] - Inter - period: For the MA09 - 01 inter - period spread, conduct a reverse spread when the spread is high [3] - Cross - variety: When the spread is high, reduce the spread between PP2601 and 3MA2601 [3]