Core Insights - Yulin, a city in Shaanxi, has transformed its economy from resource dependence to diversified development, achieving a GDP growth from 381.8 billion yuan in 2018 to 754.868 billion yuan in 2024, nearly doubling in six years [1] - The city is focusing on high-end chemical products and new materials, while also developing hydrogen energy, equipment manufacturing, and specialty agriculture, aiming to create a trillion-level energy and chemical industry cluster [1] Group 1: Economic Transformation - Yulin has become a model for resource-based city transformation, with a modern coal chemical industry system supported by four trillion-level and eight hundred-billion-level projects [3] - The city is implementing a "coal to hydrogen" strategy, leveraging its resources to transition from a coal-based economy to a hydrogen economy, positioning itself as a "Hydrogen City" [4][5] Group 2: Technological Innovation - The National Energy Group Yulin Chemical Company has achieved a breakthrough in a 79.8 billion yuan circular economy coal comprehensive utilization project, marking a significant step from planning to implementation [4] - Yulin is focusing on key technologies in hydrogen production, with projects like the hydrogen energy demonstration project receiving national funding support [6][8] Group 3: Environmental Sustainability - Yulin is addressing solid waste management by promoting comprehensive utilization, with over 6.8 million tons of solid waste generated annually, representing about 40% of the province's total [9] - The city is implementing projects to convert waste into resources, such as using coal gangue for construction materials and ecological restoration, achieving both ecological and economic benefits [11]

Report Overview - Report Date: June 18, 2025 [2] - Industry: Methanol [1] - Research Team: Energy and Chemical Research Team [4] - Data Sources: Wind, Jianxin Futures Research and Development Department [5] 1. Report Investment Rating - Not provided in the report 2. Core Viewpoints - The methanol weighted contract decreased in price with reduced positions on Tuesday. The weighted contract decreased by 0.37%, with a reduction of 23,806 positions, and the 09 main contract reduced by 3,695 positions. The weighted contract showed a wide - range volatile trend after opening lower and finally closed with a small - bodied false positive line with upper and lower shadows [5]. - The average spot transaction price of methanol in Jiangsu Taicang was 2,615 yuan/ton, an increase of 30 yuan/ton from the previous day. The Iranian situation affects methanol prices. Currently, Iranian methanol ports and shipments are normal, but there are reports of Israeli air strikes on Iranian energy infrastructure, which may support methanol prices. Short - term geopolitical uncertainties increase price volatility. The short - term supply disruptions and the short - term rebound of upstream coal prices also support methanol prices, so it is expected to be volatile and slightly stronger in the short term [5]. - From a technical perspective, in the hourly cycle, the RSI indicator entered the overbought area for the second time and then corrected, the MACD fast and slow lines were still above the zero axis, and the red bars continued to shorten. In the daily cycle, the MACD fast and slow lines both crossed above the zero axis, the red bars continued to lengthen, and the RSI indicator was in the overbought area and showed signs of correction. Overall, it is expected to be in a wide - range volatile and slightly stronger trend in the short term [6]. 3. Summary by Directory 3.1 Market Review and Outlook - **Futures Market Quotes**: The MA2501 contract opened at 2,445, closed at 2,455, with a high of 2,466, a low of 2,410, a decline of 0.37%, a trading volume of 175,703, an open interest of 208,776, and a decrease in open interest of 9,733. The MA2505 contract opened at 2,388, closed at 2,387, with a high of 2,395, a low of 2,354, a decline of 0.33%, a trading volume of 1,694, an open interest of 3,589, and an increase in open interest of 243. The MA2509 contract opened at 2,440, closed at 2,455, with a high of 2,466, a low of 2,397, a decline of 0.37%, a trading volume of 2,061,228, an open interest of 816,410, and a decrease in open interest of 3,696 [7]. 3.2 Industry News - A coal - chemical project worth 59 billion yuan started. Inner Mongolia Zhuozheng Coal - Chemical Co., Ltd.'s methanol project, methanol - acetic acid extension project, and new - material project's finished and semi - finished product tank area project began construction. The first - phase project, estimated to cost 25.5 billion yuan, plans to produce more than 30 main and by - products such as acetic acid, ethanol, polyglycolic acid, and polyoxymethylene, with an expected annual output value of about 11.7 billion yuan. It is scheduled to be put into production in October 2026, and the second - phase project construction will be launched simultaneously. The long - term plan covers about 7,800 mu of land, with an estimated investment of 59 billion yuan, targeting high - end fine - chemical products in the new energy and new - material fields [13]. 3.3 Data Overview - The report presents multiple data charts, including the main contract basis, production - sales price difference, futures price and warehouse receipt quantity, MA09 - MA01 spread, three - process methanol profit, and overseas methanol market price, but specific data details are not described in the text [20][24][25]

以下文章来源于前瞻经济学人 ，作者产业观察组 作者： 产业观察组 来源： 前瞻经济学人 （ID： chanyeqianzhan ） 西北，迎来大逆转！ 01 四线小城彻底爆发 最近，各省市陆续公布2024年前三季度GDP，西北有两座城市的表现堪称爆炸性增长，双双跑出两位数的 经济增速。 一座是煤炭大市—— 陕西榆林 ，另一座是中国镍都—— 甘肃金昌。 根据榆林官方公布的数据：2024年前三季度，该市地区生产总值5742.95亿元，按不变价格计算，同比增长 5.7%。 前瞻经济学人 . 关注中国城市发展战略、把握全球新兴产业趋势！这是省长书记爱看的智库号之一。 乍一看这个数据并没有特别亮眼，但是前瞻经济学人产业观察组通过细致研究，发现背后有两个非常惊艳 的地方。 第一，榆林GDP增量全国第五。 榆林前三季度GDP增量达到862亿元。要知道，整个陕西前三季度增量也不过1089亿，榆林一个城市就贡献 了全省近八成，是省会西安的6倍。 放在全国来看，862亿元的增量仅次于上海、北京、深圳和重庆，位居全国第五，将广州、杭州、苏州、武 汉等一众万亿城市甩在身后。 | | | 2024年前三季度GDP增量十强城市(亿元) ...