The Latest Review of Methanol Futures! Will Continue to Rise in the Coming Week

For futures:

On August 26, the main methanol contract (2301, the same below) closed at 2621, up 179 points from the same period last week. On the whole, this week, the market changed its obscure trend and went up all the way, breaking the previous downtrend and forming a double bottom pattern. From a technical point of view, the daily line touches the 60-day moving average, forming a certain pressure; the weekly line still has a certain space from the 20-day pressure level, and the MACD indicator is about to cross the horizontal axis. The nonlinear time series model shows that the current price should be a low point for a long time in the future, and the downward trend will end, and there will be a considerable upward trend; the upward trend will continue in the coming week.

In stock:

In the week of August 26, the methanol market transaction center moved up, mainly driven by the rebound in crude oil and coal prices. As of Friday, the weekly average price in Taicang, Jiangsu closed at around 2,470 CNY/ton, up 1% month-on-month; the weekly average price in Guangdong was 2,480 CNY/ton, up 0.8% month-on-month; Northwest Ordos closed at 2,290 CNY/ton, up 1.3% month-on-month.

This week, the national inventory sample enterprise inventory decreased compared with last week. East China and Central China obviously went to inventory, and the inventory in Southwest and Northeast was accumulating. The port inventory decreased significantly, mainly because the arrival of goods was limited. Downstream demand is not optimistic.