Report Overview - The report is a methanol polyolefin morning report released by the Energy and Chemicals Team of the Research Center on March 5, 2026 [1] Methanol Price Data - From February 26 to March 4, 2026, the price of动力煤期货 remained at 801. The prices of江苏现货, 华南现货, 鲁南折盘面, 西南折盘面, 河北折盘面, 西北折盘面, CFR中国, and CFR东南亚 showed various changes. For example, the江苏 spot price increased from 2200 on February 26 to 2450 on March 4, with a daily change of -65 on March 4 compared to the previous day [2] Key Figures - The import profit,主力基差, and 盘面MTO利润 on March 4 were -31, -33, and -1106 respectively, with daily changes of 0, -23, and 0 respectively [2] Plastic Price Data - From February 26 to March 4, 2026, the price of东北亚乙烯 increased from 700 to 780. The prices of华北LL, 华东LL, 华东LD, and 华东HD also showed an upward trend. For example, the华东LL price increased from 6825 on February 26 to 7425 on March 4, with a daily change of 100 on March 4 compared to the previous day [12] Key Figures - The进口利润, 主力期货, 基差, 两油库存, and 仓单 on March 4 were -68, 7355, -120, 87, and 8950 respectively, with daily changes of 0, 155, 30, 0, and -60 respectively [12] PVC Price Data - From February 26 to March 4, 2026, the price of西北电石 decreased from 2300 to 2100. The prices of电石法 - 华东, 电石法 - 华南, and 电石法 - 西北 showed some fluctuations. For example, the电石法 - 华东 price increased from 4730 on February 26 to 4810 on March 4, with a daily change of 20 on March 4 compared to the previous day [20] Key Figures - The进口美金价 (CFR中国) remained at 720 from February 26 to March 4. The西北综合利润 and 华北综合利润 remained at 356 and -244 respectively. The基差 (高端交割品) remained at -180 [20] Market Analysis - The V基差 was -330, a 10-point increase from the previous period. This week's trading volume was average. The FOB price of the ethylene method was 575, and that of the calcium carbide method was 570, and the sustainability needs further observation. The price of coal was 600 (unchanged), and the price of semi - coke was 820 (unchanged). The profit of semi - coke was poor, and the profit of calcium carbide was also poor. The ex - factory price of Shandong's spot was 4560, and the comprehensive profit of the purchased calcium carbide chlor - alkali was around - 600. The prices of ethylene and calcium carbide remained stable [21] - The upstream prices remained stable this week, with an operating rate of 79.7%, a 1.1% increase from the previous period. This week, the operating rate of the calcium carbide method was 79.7%, a 1.3% increase from the previous period, and that of the ethylene method was 79.6%, a 0.3% increase from the previous period. Downstream demand remained stable [21] - The upstream factory inventory was 30.9 (an increase of 0.4w from the previous period), the PVC social inventory was 111.4w (an increase of 5w from the previous period), the inventory in East China was 106 (an increase of 5w from the previous period), and the inventory in South China was 5.4w (unchanged from the previous period). The total inventory level was still moderately high, and exports remained unchanged compared to the previous period [21] - Currently, the comprehensive profit of PVC is relatively low. There is a short - term seasonal recovery in the operating rate. Attention should be paid to the restocking situation of downstream enterprises. Overall, the export volume this year is relatively large. The sustainability of subsequent exports needs to be observed. In the long run, the new construction demand in the domestic and international real estate markets remains weak. In general, the medium - and long - term outlook for PVC remains poor [21]