宝城期货甲醇早报-20251103

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The methanol 2601 contract is expected to run weakly, showing an oscillating and weakly downward trend in the short - term, medium - term, and intraday periods. The weak supply - demand situation is the main factor leading to this trend [1][5] 3. Summary by Related Content 3.1 Time - based Viewpoints - Short - term: The methanol 2601 contract is expected to be oscillating [1] - Medium - term: The methanol 2601 contract is expected to be oscillating and weakly downward [1] - Intraday: The methanol 2601 contract is expected to be oscillating and weakly downward [1][5] 3.2 Core Logic - After the meeting between Chinese and US leaders, the overall results in economic and trade tariffs were slightly lower than market expectations. As the macro - positive sentiment faded, the driving force of macro factors weakened, leading to profit - taking in the market [5] - The domestic methanol operating rate and weekly production remain at relatively high levels, and the external import pressure continues to increase. The methanol inventories at ports in East and South China are high [5] - Although downstream demand is gradually improving, the olefin futures profit is not good, and the weak demand situation still needs to be improved [5] 3.3 Market Performance - Last Friday night, the domestic methanol futures 2601 contract showed a weak downward trend, with the futures price dropping significantly by 2.09% to 2156 yuan/ton [5]