甲醇日报：港口处于累库周期，港口基差偏弱-20250812

Report Industry Investment Rating - Not provided in the content Core View - The port is in the inventory accumulation cycle, and the port basis is weak. The overall situation is that the inland market is stronger than the port market. Attention should be paid to the sustainability of inland demand resilience [1][3] Summary by Directory I. Methanol Basis & Inter - period Structure - Multiple charts show the basis of methanol in different regions (such as Taicang, Lunan, Inner Mongolia North Line, etc.) relative to the main futures contract and the price differences between different methanol futures contracts (such as 01 - 05, 05 - 09, 09 - 01) [7][11][22] II. Methanol Production Profit, MTO Profit, Import Profit - Charts display the production profit of Inner Mongolia coal - based methanol, the MTO profit in East China, and the import price differences between different regions (such as Taicang - CFR China, CFR Southeast Asia - CFR China, etc.) [26][27][31] III. Methanol开工, Inventory - The charts present the total port inventory of methanol, the MTO/P operating rate (including integrated ones), the sample inventory of inland factories, and the operating rate of Chinese methanol (including integrated ones) [33][34][39] IV. Regional Price Differences - Different regional price differences are shown, such as the price differences between Lubei - Northwest - 280, East China - Inner Mongolia - 550, Taicang - Lunan - 250, etc. [38][43][46] V. Traditional Downstream Profits - Charts show the production gross profits of traditional downstream products such as Shandong formaldehyde, Jiangsu acetic acid, Shandong MTBE isomerization etherification, and Henan dimethyl ether [47][55]