Methanol Market Weekly Report: MA2409 Contract Short-term Proposal to Trade in the 2570-2650 Range

Golden Ten Futures, May 24th, this week, the domestic methanol mainland and coastal markets have different trends. The overall atmosphere of the mainland methanol market this week was weak, the installation in the northwest production area gradually recovered, and the market wait-and-see sentiment was strong; the port basis rose strongly, with the end of fill-in and the release of the cargo rights of import sources in the mainstream region of East China, the basis fell rapidly from the high level. Recently, the domestic methanol spring maintenance continued, and the output and capacity utilization rate declined. This week, the unloading speed of domestic ports was normal, and the total amount was average, but there were many olefin parking devices at the end point, which made the methanol port inventory accumulate. Iranian shipments resumed, but the overhaul of multiple sets of non-Iranian devices overseas, the import estimate in May is basically the same as that in April. This week, Shaanxi Pucheng and Shenhua Baotou olefin plants restarted, and the overall operating rate of methanol-to-olefins increased. The average weekly capacity utilization rate of MTO plants in Jiangsu and Zhejiang continued to decline. Pay attention to the negative demand feedback caused by low profits. The MA2409 contract is recommended to be traded in the 2570-2650 range in the short term.