20180709前海期货甲醇半年报：甲醇多空博弈高位震荡
报告摘要
n 港口库存止跌回稳，但库存能否出现明显的累积还存在一些变数。由于近期人民币持续贬值，进口甲醇的套利空间不断被压缩。
n 三季度传统下游需求有望恢复，新兴下游开工率有所回升，部分装置重启。
n 市场对年初的气荒和环保问题记忆犹新，但今年并不是去年，行情预期不宜过度，水满则溢。
Ø 上半年走势回顾
Ø 影响因素分析
Ø 行情展望与投资策略
Abstract
n Port stocks recover slightly, but there are still some uncertainties about whether stocks will accumulate. The arbitrage opportunity for imported methanol has narrowed due to recent depreciation of RMB.
n Traditional downstream demand is likely to improve in the third quarter, and the new downstream operation rate will increase with some devices restarted.
n From early this year till now, natural gas shortage and environmental protection have created a bullish mood. However, this year’s situation might not be comparable to that of last year, and a bullish market is not expected to last because the market is overheating.
Ø Market review in 1H18
Ø Analysis of influencing factors
Ø Market outlook and investment strategy recommendation
20180709前海期货—甲醇产业链半年报—甲醇多空博弈高位震荡.pdf
