宝城期货甲醇早报-2025-10-23：品种晨会纪要-20251023

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Report's Core View - The report predicts that the domestic methanol futures 2601 contract may maintain a volatile and stable trend on Thursday. Although downstream demand is gradually improving, the weak demand situation still needs to be improved, and the contract is facing the suppression of the medium - term downward trend [5]. 3. Summary by Related Catalog Price and Market Conditions - The domestic methanol futures 2601 contract showed a narrow - range consolidation on Wednesday night, with the futures price slightly down 0.13% to 2262 yuan/ton [5]. Core Logic - After the market digested the event of sanctions on Iranian methanol vessels, the bullish driving force weakened. The domestic methanol operating rate and weekly output remain at a relatively high level, the external import pressure continues to increase, and the peak of imports this year has arrived, leading to high methanol inventories at ports in East and South China before the festival. Although downstream demand is gradually improving, the olefin futures profit is not good, and the weak demand situation still needs to be improved [5]. Time - based Views - Short - term view: The methanol 2601 is considered to be weakly volatile. Medium - term view: It is also weakly volatile. Intraday view: It is strongly volatile. The reference view is a strong - running trend [1][5].