Report Industry Investment Rating No information provided in the report. Core Viewpoints - Through macro - fundamental and technical analysis, the report predicts the price trends and support/resistance levels of various futures on August 14, 2025, including index futures, bond futures, precious metal futures, base metal futures, energy futures, and agricultural futures [2][3][4][5][7]. Summary by Directory 1. Futures Market Overview - On August 13, domestic commodity futures closed with mixed results. Some commodities like rapeseed oil, soybean meal, etc. rose, while container shipping to Europe, industrial silicon, etc. declined. International markets showed that COMEX gold futures rose, international oil prices fell, and most LME base metals declined. The U.S. dollar index fell, and the RMB exchange rate had mixed performance [14][15][16][17]. 2. Macro - Information - **Financial Data**: In July 2025, M2 balance was 329.94 trillion yuan, up 8.8% year - on - year; M1 balance was 111.06 trillion yuan, up 5.6% year - on - year. The net capital injection in the first seven months was 465.1 billion yuan. RMB loans increased by 12.87 trillion yuan, and deposits increased by 18.44 trillion yuan. The social financing scale stock was 431.26 trillion yuan, up 9% year - on - year [8]. - **"Double Discount" Policy**: The "double discount" policy for personal consumption loans and service business loans has a one - year term, and its extension will be studied later [9]. - **Equipment Update**: 188 billion yuan of investment subsidy funds for equipment updates supported by special long - term bonds in 2025 have been allocated, driving over 1 trillion yuan in total investment [10]. - **Social Security Fund**: As of August 12, the social security fund appeared in the top ten tradable shares of 41 A - shares, with a total market value of 12.622 billion yuan. It increased holdings in rural commercial banks, feed, and small household appliances, and reduced holdings in power, chemical raw materials, and medical devices [11]. - **Countermeasures against the EU**: China included two EU banks in the counter - list in response to the EU's sanctions on two Chinese financial institutions [12]. - **Fed Outlook**: U.S. Treasury Secretary Bessent is optimistic about the Fed's September meeting, with a possible 50 - basis - point rate cut and a series of rate cuts. Trump is considering candidates for the Fed chair [13]. 3. Futures Market Analysis and Forecast Index Futures - On August 13, major index futures contracts showed an upward trend. It is expected that on August 14, index futures will show a strong - side oscillation. For the whole of August 2025, they are also expected to be strong - side oscillating or oscillating strongly [18][19][22][23]. Bond Futures - On August 13, the ten - year and thirty - year bond futures contracts showed a slight upward trend. On August 14, they are expected to have a wide - range oscillation [37][41]. Precious Metal Futures - On August 13, gold and silver futures contracts showed a slight upward trend. In August 2025, they are expected to have a strong - side wide - range oscillation, and on August 14, they are expected to be strong - side oscillating [42][48]. Base Metal Futures - On August 13, copper, aluminum, and other base metal futures contracts showed a slight upward trend, while alumina, industrial silicon, and others declined. In August 2025, they are expected to have various trends such as strong - side wide - range oscillation, wide - range oscillation, etc. On August 14, copper, aluminum, and alumina are expected to be weak - side oscillating, and industrial silicon and polysilicon are expected to have a wide - range oscillation [53][59][65][70][72]. Energy Futures - On August 13, the crude oil futures contract declined. In August 2025, it is expected to have a wide - range oscillation, and on August 14, it is expected to be weak - side oscillating [100]. Agricultural Futures - On August 13, the rapeseed meal futures contract rose significantly. On August 14, it is expected to be weak - side oscillating. Other agricultural futures such as PTA and PVC are expected to be weak - side oscillating on August 14 [7][105][108][110].

Group 1: Investment Rating - There is no information about the industry investment rating in the provided content. Group 2: Core View - The report believes that methanol will run weakly, with short - term, medium - term, and intraday trends being oscillatory, oscillatory, and oscillatory - weak respectively [1][5]. - Methanol has returned to a market dominated by a weak supply - demand structure as the previous macro - driving force has weakened. The supply pressure of methanol at home and abroad remains high, and downstream demand is in the off - season, leading to a downward shift in the price center [5]. Group 3: Summary by Related Content Price and Trend - On Wednesday night, the domestic methanol futures 2601 contract maintained an oscillatory - weak trend, with the futures price slightly down 0.72% to 2470 yuan/ton. It is expected to maintain an oscillatory - weak trend on Thursday [5]. Definition of Fluctuation - For varieties with night trading, the night - trading closing price is the starting price; for those without, the previous day's closing price is used. The daily - trading closing price is the end price to calculate the increase or decrease [2]. - A decline of more than 1% is considered a fall, 0 - 1% a weak oscillation, 0 - 1% increase a strong oscillation, and an increase of more than 1% a rise. Oscillatory - strong/weak only applies to intraday views [3][4].

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The fundamentals of zinc show a mixed picture, with some factors being bullish and others neutral or bearish. The overall expectation for Shanghai zinc ZN2509 is to oscillate and strengthen [2]. - The previous trading day saw Shanghai zinc oscillate and rise, with a shrinking volume and both long and short positions reducing, but the short - side reducing more. The short - term market may oscillate and consolidate, and technically, the price is above the moving average system, with the short - term indicator KDJ rising and running in the strong zone, while the trend indicator shows that the long - side strength is decreasing and the short - side strength is increasing, with the short - side having a slight advantage [19]. Summary by Relevant Catalogs 1. Zinc Fundamentals - In April 2025, global zinc plate production was 1153000 tons, consumption was 1130200 tons, with a supply surplus of 22700 tons. From January to April, production was 4451400 tons, consumption was 4507900 tons, with a supply shortage of 56500 tons. From January to April, global zinc ore production was 4040600 tons, which is bullish [2]. - The basis is - 100 with a spot price of 22530, being neutral [2]. - On August 12, LME zinc inventory decreased by 875 tons to 79550 tons, and SHFE zinc inventory warrants increased by 274 tons to 15768 tons, being neutral [2]. - The previous day, Shanghai zinc showed an oscillating and rising trend, closing above the 20 - day moving average with the 20 - day moving average rising, which is bullish [2]. - The main net position is short, and the short position is decreasing, which is bearish [2]. 2. Zinc Futures Market on August 12 - The trading volume of zinc futures contracts on August 12 varied by delivery month. For example, the 2509 contract had a trading volume of 79971 lots and a turnover of 901564490 yuan [3]. 3. Domestic Spot Market on August 12 - The prices of zinc - related products in the domestic spot market on August 12 showed different trends. Zinc concentrate in Linzhou was 17160 yuan/ton, down 20 yuan/ton; zinc ingot was 22530 yuan/ton, down 20 yuan/ton; galvanized sheet was 4120 yuan/ton, up 23 yuan/ton; galvanized pipe was 4512 yuan/ton, up 13 yuan/ton; zinc alloy in Ningbo was 23050 yuan/ton, down 30 yuan/ton; zinc powder in Changsha was 27590 yuan/ton, down 30 yuan/ton; zinc oxide in Taizhou was 20850 yuan/ton, unchanged; and secondary zinc oxide in Linzhou was 7729 yuan/ton, unchanged [4]. 4. Zinc Ingot Inventory Statistics - From July 31 to August 11, the total social inventory of zinc ingots in major Chinese markets increased from 84400 tons to 99000 tons. Compared with August 4, it increased by 11800 tons, and compared with August 7, it increased by 7700 tons [5]. 5. Zinc Warehouse Receipt Report on August 12 - The total zinc warehouse receipts on August 12 were 15768 tons, an increase of 274 tons. Guangdong had 5482 tons with an increase of 225 tons, and Tianjin had 10286 tons with an increase of 49 tons [6]. 6. LME Zinc Inventory on August 12 - On August 12, LME zinc inventory decreased by 875 tons to 79550 tons [2][7]. 7. Zinc Concentrate Price on August 12 - The price of 50% - grade zinc concentrate in major domestic regions on August 12 was mostly 17160 yuan/ton, down 20 yuan/ton, except in Hechi (16960 yuan/ton) and Longnan (17110 yuan/ton) [8]. 8. Zinc Ingot Smelter Price on August 12 - The prices of 0 zinc ingots from major smelters on August 12 all decreased by 30 yuan/ton, with prices ranging from 22290 yuan/ton (Yunnan Chihong Zinc & Germanium) to 22920 yuan/ton (Liaoning Huludao Zinc Industry) [12]. 9. Domestic Refined Zinc Production in June 2025 - In June 2025, the planned production of refined zinc was 459700 tons, and the actual production was 471800 tons, a month - on - month increase of 11.67% and a year - on - year decrease of 2.36%. The production was 2.63% higher than the planned value, and the capacity utilization rate was 87.10%. The planned production for July was 470300 tons [14]. 10. Zinc Concentrate Processing Fee on August 12 - The processing fees for 50% - grade zinc concentrate in different domestic regions on August 12 ranged from 3400 to 4100 yuan/metal ton, and the import processing fee for 48% - grade zinc concentrate was 70 US dollars/dry ton [16]. 11. Shanghai Futures Exchange Member Zinc Trading and Position Ranking on August 12 - The total trading volume of zinc contracts among members of the Shanghai Futures Exchange on August 12 was 126968 lots, a decrease of 8228 lots. The total long position was 57632 lots, a decrease of 3363 lots, and the total short position was 56690 lots, a decrease of 5486 lots [17].

Report Summary 1) Report Industry Investment Rating No relevant content found. 2) Core Viewpoint of the Report - The methanol 2601 contract is expected to run in a relatively strong manner, showing a short - term, medium - term and intraday trend of stability with short - term and medium - term oscillations and intraday oscillations tending to be strong [1][5]. 3) Summary according to Relevant Catalogue Variety Morning Meeting Summary - For the methanol 2601 contract, the short - term view is oscillation, the medium - term view is oscillation, the intraday view is oscillation tending to be strong, and the reference view is a relatively strong operation. The core logic is that there are differences between long and short positions, and methanol has stabilized in an oscillatory manner [1]. Main Variety Price Market Driving Logic - Commodity Futures Energy and Chemical Sector - As the previous macro - driving force weakens, methanol has returned to a market dominated by a weak supply - demand structure. Currently, the supply pressure of methanol at home and abroad remains high, and downstream demand is in the off - season. The weak supply - demand structure causes the price center to face a downward shift. However, due to the rebound of domestic coal futures prices in the overnight session on Monday, which offsets the weak supply - demand fundamentals of methanol, the methanol futures 2601 contract showed an oscillatory consolidation trend, with the futures price slightly down 0.04% to 2478 yuan/ton. It is expected that the domestic methanol futures 2601 contract may maintain an oscillatory and stable trend on Tuesday [5].

Report Industry Investment Rating No relevant content provided. Report's Core View - The soybean meal and soybean oil futures are both in a wide - range oscillation stage. For soybean meal, the high inventory and good US weather suppress price increases, while the expected shortage of fourth - quarter supply and rising Brazilian soybean premiums support the price. For soybean oil, high domestic soybean arrivals and high - level oil mill operations lead to inventory accumulation, but uncertainties in biodiesel policy and Sino - US relations cause concerns about future supply [7][27] Summary by Directory Soybean Meal Futures 1. Mid - line Market Analysis - Mid - line trend: The soybean meal main contract is in a wide - range oscillation phase. - Trend logic: In the 31st week, the actual soybean crushing volume of oil mills was 2.2539 million tons, with an operating rate of 63.36%. The soybean meal inventory was 1.0416 million tons, a decrease of 0.15 million tons (0.14%) from the previous week. Good weather in the US main production areas strengthens the expectation of a bumper harvest, and sufficient domestic soybean arrivals and high - level oil mill operations result in high inventory, suppressing price increases. However, there is an expected shortage of fourth - quarter soybean supply, and the continuous strengthening of Brazilian soybean premium quotes pushes up import costs. - Strategy suggestion: It is recommended to wait and see [7] 2. Variety Trading Strategy - Last week's strategy review: The overall trend of soybean meal futures prices was sideways, and the funds were relatively bearish. The M2509 was expected to oscillate in the range of 2920 - 3150 in the short term. - This week's strategy suggestion: The overall trend of soybean meal futures prices is sideways, and the funds are strongly bullish. The M2601 is expected to oscillate strongly in the short term, with an expected operating range of 2980 - 3200 [10][11] 3. Relevant Data Situation - Data sources: Wind, Mysteel, Great Wall Futures Trading Consultation Department. The data includes soybean meal weekly output, weekly inventory, apparent consumption, and weekly inventory days [19][21][22] Soybean Oil Futures 1. Mid - line Market Analysis - Mid - line trend: The soybean oil main contract is in a wide - range oscillation phase. - Trend logic: According to Mysteel data, in the 31st week, the actual output of soybean oil from 125 oil mills was 428,200 tons, an increase of 28,000 tons from the previous week. The commercial inventory of soybean oil in key national regions was 1.1174 million tons, an increase of 293,000 tons from the previous week. High domestic soybean arrivals and high - level oil mill operations lead to high - level crushing volume, but the weak terminal consumption causes continuous inventory accumulation. Uncertainties in biodiesel policy and Sino - US relations cause concerns about future supply. - Strategy suggestion: It is recommended to wait and see [27] 2. Variety Trading Strategy - Last week's strategy review: The overall trend of soybean oil futures prices was in an upward channel, and the funds were strongly bullish. The Y2509 was expected to run strongly in the short term, with an expected operating range of 8000 - 8400. - This week's strategy suggestion: The overall trend of soybean oil futures prices is in an upward channel, and the funds are relatively bullish. The Y2601 is expected to continue to run strongly, but attention should be paid to possible short - term oscillatory corrections, with an expected operating range of 8100 - 8500 [30][31] 3. Relevant Data Situation - Data sources: Wind, Mysteel, Great Wall Futures Trading Consultation Department. The data includes soybean oil weekly output, weekly inventory, soybean weekly arrivals, weekly inventory, weekly crushing volume, weekly operating rate, weekly port inventory, and Brazilian premium [42][43][47]

Report Industry Investment Rating No relevant content provided. Core Viewpoints - Through macro - fundamental and technical analysis, the report predicts the trends of various futures on August 8, 2025. Index futures, gold, silver, industrial silicon, polycrystalline silicon, and lithium carbonate futures are expected to be strong or strongly volatile. Ten - year and thirty - year treasury bond futures are also expected to be strong. Copper and PTA futures are expected to fluctuate and consolidate. Aluminum, alumina, zinc, rebar, hot - rolled coil, iron ore, glass, soda ash, crude oil, and PVC futures are expected to be weakly volatile [2][3][4][6]. Summary by Related Catalogs 1. Macro News and Trading Tips - China's unified policy of exempting preschool education fees for all kindergarten seniors in the fall semester of this year is expected to benefit about 12 million people, reducing family expenses by 20 billion yuan [7]. - S&P maintains China's sovereign credit rating at "A +" with a "stable" outlook. China's macro - policies will continue to strengthen in the second half of the year [7]. - In July, China's total goods trade imports and exports reached 3.91 trillion yuan, a year - on - year increase of 6.7%. The total for the first seven months was 25.7 trillion yuan, a year - on - year increase of 3.5% [7]. - The central bank will conduct 70 billion yuan of outright reverse repurchase operations on August 8. Analysts believe that the central bank may continue the net investment model of outright reverse repurchases [8]. - As of the end of July, China's foreign exchange reserves were 329.22 billion US dollars, a decrease of 2.52 billion US dollars from the end of June. Gold reserves increased by 600,000 ounces [8]. - The Ministry of Justice and other departments will strengthen the governance of prominent problems in enterprise - related fines and increase supervision of government credit defaults [8]. - The Ministry of Finance and the Ministry of Emergency Management have pre - allocated 430 million yuan in central natural disaster relief funds [9]. - In July, China's road freight price index was 105 points, a month - on - month decrease of 0.05% and a year - on - year increase of 1.8%. The warehousing index was 50.1%, down 0.9 percentage points from the previous month [9]. - Russia and the US have agreed in principle to hold a summit. The US has started the interview process for the new Fed chair [9][11]. - Trump has made a series of personnel and policy decisions, including replacing a Fed governor, urging the resignation of Intel's CEO, and signing an executive order on financial services [10][11]. - The Fed's Bostic believes a rate cut this year is appropriate. US initial and continuing jobless claims increased. India's Modi will not compromise on farmers' interests. The Bank of England cut interest rates by 25 basis points. Japan downgraded its economic growth forecast. Germany's industrial output decreased significantly in June [11][12]. 2. Commodity Futures - related Information - On August 7, international precious metal futures generally rose. COMEX gold futures rose 1.44%, and COMEX silver futures rose 1.66%. US oil and Brent crude oil futures fell due to OPEC's production increase [12]. - London base metals mostly rose, but copper fell slightly. The on - shore RMB against the US dollar rose, and the US dollar index fell [13]. 3. Futures Market Analysis and Forecast Index Futures - On August 7, index futures showed different trends. On August 8, IF2509, IH2509, IC2509, and IM2509 are expected to be strongly volatile. For the whole of August 2025, these contracts are also expected to be strong or strongly volatile [14][15][16][18][19]. Treasury Bond Futures - On August 7, ten - year and thirty - year treasury bond futures rose slightly. On August 8, the ten - year treasury bond futures contract T2509 and the thirty - year contract TL2509 are expected to be strongly volatile [38][40][44]. Gold Futures - On August 7, the gold futures contract AU2510 rose slightly. In August 2025, the main continuous contract is expected to be strongly and widely volatile. On August 8, AU2510 is expected to be strongly volatile [44][45]. Silver Futures - On August 7, the silver futures contract AG2510 rose. In August 2025, the main continuous contract is expected to be strongly and widely volatile. On August 8, AG2510 is expected to be strongly volatile [50][51]. Copper Futures - On August 7, the copper futures contract CU2509 rose slightly. In August 2025, the main continuous contract is expected to fluctuate widely. On August 8, CU2509 is expected to fluctuate and consolidate [56]. Aluminum Futures - On August 7, the aluminum futures contract AL2509 rose slightly. In August 2025, the main continuous contract is expected to fluctuate widely. On August 8, AL2509 is expected to be weakly volatile [62]. Alumina Futures - On August 7, the alumina futures contract AO2509 fell. In August 2025, the main continuous contract is expected to fluctuate widely. On August 8, AO2509 is expected to be weakly volatile [67]. Zinc Futures - On August 7, the zinc futures contract ZN2509 rose. In August 2025, the main continuous contract is expected to fluctuate widely. On August 8, ZN2509 is expected to be weakly volatile [71]. Industrial Silicon Futures - On August 7, the industrial silicon futures contract SI2511 showed a slight decline. On August 8, it is expected to be strongly volatile [75]. Polycrystalline Silicon Futures - On August 7, the polycrystalline silicon futures contract PS2511 fell. On August 8, it is expected to be strongly volatile [76]. Lithium Carbonate Futures - On August 7, the lithium carbonate futures contract LC2511 rose. On August 8, it is expected to be strongly volatile [79]. Rebar Futures - On August 7, the rebar futures contract RB2510 showed a slight decline. In August 2025, the main continuous contract is expected to fluctuate widely. On August 8, RB2510 is expected to be weakly volatile [82]. Hot - Rolled Coil Futures - On August 7, the hot - rolled coil futures contract HC2510 fell. On August 8, it is expected to be weakly volatile [88][89]. Iron Ore Futures - On August 7, the iron ore futures contract I2509 fell slightly. In August 2025, the main continuous contract is expected to fluctuate widely. On August 8, I2509 is expected to be weakly volatile [90]. Coking Coal Futures - On August 7, the coking coal futures contract JM2601 rose. On August 8, it is expected to fluctuate widely and try to break through resistance levels [98][99]. Glass Futures - On August 7, the glass futures contract FG509 fell. On August 8, it is expected to be weakly volatile [99]. Soda Ash Futures - On August 7, the soda ash futures contract SA601 fell. On August 8, it is expected to be weakly volatile [101]. Crude Oil Futures - On August 7, the crude oil futures contract SC2509 fell. In August 2025, the main continuous contract is expected to fluctuate widely. On August 8, SC2509 is expected to be weakly volatile [103]. PTA Futures - On August 7, the PTA futures contract TA509 fell. On August 8, it is expected to fluctuate and consolidate [109][110]. PVC Futures - On August 7, the PVC futures contract V2509 showed a slight decline. On August 8, it is expected to be weakly volatile [111].

Group 1 - The main contract for propylene futures experienced a slight decline of 0.28%, with a current price of 6481.0 yuan, having reached a low of 6479.0 yuan during the trading session [1][2] - Market analysts from Zhonghui Futures suggest a price range for propylene at 6350-6550 yuan, indicating a bearish outlook due to weak downstream demand and increasing inventory levels [2] - According to Ruida Futures, China's propylene production for the week was 1.1636 million tons, a decrease of 0.77 thousand tons from the previous week, reflecting a decline of 0.66% [3] Group 2 - Downstream capacity utilization rates for propylene varied, with the highest increase seen in n-butanol production, while phenol-ketone production saw the largest decline due to maintenance shutdowns [3] - The overall market sentiment for propylene remains weak, with short-term support at 6400 yuan and resistance at 6600 yuan, as the industry is currently in a consumption off-season [3]

工业硅日报 油） 021-60635738 lijie@ccb.ccbfutures.com 期货从业资格号：F3031215 021-60635737 renjunchi@ccb.ccbfutures.com 期货从业资格号：F3037892 硅）028-8663 0631 penghaozhou@ccb.ccbfutures.com 期货从业资格号：F3065843 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 研究员：冯泽仁（玻璃纯碱） 021-60635727 fengzeren@ccb.ccbfutures.com 行业 日期 2025 年 08 月 07 日 能源化工研究团队 研究员：李捷,CFA（原油燃料 研究员：任俊弛（PTA/MEG） 研究员：彭浩洲（工业硅/多晶 研究员：彭婧霖（聚烯烃） 研究员：刘悠然（纸浆） 期货从业资格号：F03134307 请阅读正文后的声明 每日报告 一、行情回顾与展望 ...

Report Industry Investment Rating No information provided. Core View of the Report Through macro - fundamental and technical analysis, the report predicts the trend of various futures contracts on August 6, 2025, and also gives the expected trend of some futures in August 2025. It also provides macro - news, commodity - related information, and the performance of various futures on August 5, 2025 [2]. Summary by Relevant Catalogs 1. Futures Market Performance on August 5, 2025 - **Stock Index Futures**: IF2509, IH2509, IC2509, and IM2509 all showed a trend of opening slightly higher and rising, with varying degrees of increase [14][15]. - **Treasury Bond Futures**: Most treasury bond futures closed higher, with the 30 - year, 10 - year, and 5 - year contracts rising, and the 2 - year contract falling [37]. - **Commodity Futures**: Gold, silver, copper, aluminum, etc. showed different trends of rising or falling, with some showing weak rebounds and some showing downward pressure [42][48][52]. 2. Futures Market Forecast on August 6, 2025 - **Stock Index Futures**: Expected to be strongly volatile. For example, IF2509 has resistance levels at 4100 and 4122 points, and support levels at 4080 and 4060 points [2]. - **Treasury Bond Futures**: The 10 - year T2509 and 30 - year TL2509 are expected to be strongly volatile [2]. - **Commodity Futures**: Gold, silver, and polycrystalline silicon are expected to be strongly volatile; copper, aluminum, and other metals, as well as glass, soda ash, etc. are expected to be weakly volatile; industrial silicon and lithium carbonate are expected to have wide - range fluctuations [2][3]. 3. Futures Market Forecast in August 2025 - **Stock Index Futures**: IF, IH, IC, and IM are all expected to be strongly volatile [18][19]. - **Commodity Futures**: Gold and silver are expected to be strongly and widely volatile; copper, aluminum, and iron ore are expected to have wide - range fluctuations; rebar is expected to be weakly and widely volatile; crude oil is expected to have wide - range fluctuations [42][52][77][85]. 4. Macro - News - China is implementing a series of policies, including free pre - school education, financial support for new industrialization, and health - environment promotion [8]. - The US trade deficit has shrunk, and economic data such as the ISM non - manufacturing index are mixed; Japan may raise interest rates; the eurozone's comprehensive PMI has rebounded slightly [9][10][11]. 5. Commodity - Related Information - The China Chamber of Commerce for Import and Export of Machinery and Electronic Products has issued an initiative for the photovoltaic industry; the trading volume and turnover of the domestic futures market in July have increased significantly [11]. - On August 5, international oil prices fell, precious metals rose, and base metals showed mixed trends [12].

Report Summary 1. Report Industry Investment Rating - No investment rating is provided in the report. 2. Report's Core View - The methanol 2509 contract is expected to run strongly, with short - term and medium - term trends being oscillatory, and an intraday trend of oscillatory strength. The price of methanol is affected by coal price rebound and its own supply - demand structure [1][5]. 3. Summary by Related Content Price and Trend - The short - term trend of methanol 2509 is oscillatory, the medium - term trend is oscillatory, and the intraday trend is oscillatory and slightly stronger, with an overall view of running strongly [1]. - On Tuesday night, the domestic methanol futures 2509 contract showed an oscillatory and slightly stronger trend, with the futures price slightly rising 0.46% to 2392 yuan/ton. It is expected to maintain an oscillatory and slightly stronger trend on Wednesday [5]. Driving Logic - As the previous macro - driving force weakens, methanol returns to a market dominated by a weak supply - demand structure. Currently, the supply pressure of methanol at home and abroad is still high, and downstream demand is in the off - season, leading to a downward shift in the price center [5]. - The rebound of domestic coal futures prices drives the methanol futures 2509 contract to show an oscillatory and slightly stronger trend [5].