甲醇数据日报-20251118

1. Report Industry Investment Rating - There is no information about the industry investment rating in the report. 2. Core View of the Report - In the short - term, methanol prices will fluctuate within a range, while in the medium - to long - term, the methanol spot market may shift from strong to weak and fluctuate [1]. 3. Summary by Relevant Catalogs Spot Price - The prices of most energy and chemical products remained stable on November 14 - 17, 2025. Only the prices of Sichuan - Chongqing LPG, methanol in Taicang and Shandong, methane chloride, and MTBE decreased, while the price of international natural gas increased. Methanol prices in many domestic regions increased slightly. The inventory of enterprises in the northwest main production area was low, and the willingness of downstream and traders to replenish at low prices increased, driving up the auction transaction price. The positive sentiment in the futures market led to smooth transactions of new domestic orders in the afternoon, and some enterprises stopped selling to support prices, pushing up the spot price. However, downstream buyers were mainly on the sidelines, and procurement became more rational after the previous low - price replenishment [1]. Supply - Domestic methanol production, domestic and international operating rates, and arrival volume remained unchanged. The formaldehyde market showed mixed trends. The slight adjustment of raw material methanol strengthened the cost support. Formaldehyde production enterprises faced greater pressure to sell goods as the downstream entered the off - season, and they adjusted their sales mechanisms according to their inventory [1]. Inventory - Both enterprise inventory and port inventory remained unchanged [1]. Demand - The order backlog remained unchanged. The operating rates of downstream industries such as MTO, dimethyl ether, formaldehyde, acetic acid, chloride, and MTBE remained unchanged [1]. Associated Product Prices - The prices of most associated products remained stable, while the prices of methane chloride and MTBE decreased [1]. Operation Strategy - The basis strengthened, and the trading volume was average. In the short - term, methanol prices will fluctuate within a range, and in the medium - to long - term, the methanol spot market may shift from strong to weak and fluctuate [1].