Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The biggest contradiction in the methanol market lies in the ports. Although the reverse flow window from ports to the inland is open due to the strong olefin procurement sentiment in the inland, port pressure remains high. The high shipment volume from Iran and non - Iranian regions makes it difficult to resolve the contradiction for the 01 contract. Methanol may face a short - term oscillating pattern. Considering downstream inventory and port pressure, it is recommended to reduce long positions and continue to hold short put options [4]. - This week, the expected arrival of foreign vessels at ports is scattered, and the arrival volume is sufficient, so port methanol inventory is expected to accumulate [5]. 3. Specific Summaries Price Forecast - The monthly price range forecast for methanol is 2200 - 2500, with a current 20 - day rolling volatility of 20.01% and a 3 - year historical percentile of 51.2%. For polypropylene, the price range is 6800 - 7400, with a volatility of 10.56% and a historical percentile of 42.2%. For plastic, the price range is 6800 - 7400, with a volatility of 15.24% and a historical percentile of 78.5% [3]. Hedging Strategies - **Inventory Management**: When the finished - product inventory is high and there are concerns about a methanol price decline, to prevent inventory losses, enterprises can short methanol futures (MA2601) to lock in profits, with a hedging ratio of 25% and an entry interval of 2250 - 2350. They can also buy put options (MA2601P2250) to prevent a sharp price drop and sell call options (MA2601C2350) to reduce capital costs, with a put - option hedging ratio of 50% and a call - option entry interval of 45 - 60 [3]. - **Procurement Management**: When the procurement inventory is low and enterprises want to purchase according to orders, to prevent an increase in procurement costs due to a methanol price rise, they can buy methanol futures (MA2601) at present to lock in procurement costs, with a hedging ratio of 50% and an entry interval of 2450 - 2550. They can also sell put options (MA2601P2300) to collect premiums and lock in the purchase price if the price drops, with a hedging ratio of 75% and an entry interval of 20 - 25 [3].