The main crude oil futures contract fluctuated during the week this week. As of Friday's close, the SC crude oil main contract closed at 566.3 yuan/barrel, down 0.65% from last Friday's close.

As of the close of Friday on the futures market, the methanol contract has slightly reduced its position today, with 5,161 positions in the weighted methanol contract and 4,966 positions in the 05 main contract. The weighted contract, the intraday trend, fluctuated downward throughout the day, closing down 0.8% overall.

The RU2405 month contract opened this week at 13,800 points, with a maximum of 13,950 points and a minimum of 13,635 points. It closed at 13,875 points, an increase of 105 points, with a trading volume of 1,025,916 hands and an open interest of 160,139 hands.

The demand for coke continues to weaken, inventories in the lower reaches of the industrial chain continue to rise, and steel mills are strongly willing to lower coke prices. This week, the second round of coke shipments has landed. The closing price of quasi-first-class wet quenching coke in Rizhao Port is 2,340 yuan/ton, and the ex-warehouse price is 2,300 yuan/ton. tons, equivalent to a warehouse receipt cost of about 2,510 yuan/ton. After the second round of coke price cuts, the main coke contract is still at a slight discount.

From a fundamental point of view, the start-up in mainland China is basically stable. This week, the average start-up rate of Zhuochuang methanol is 71.35%, and the start-up rate in northwest China is 82.72%, a slight increase from last week. Jiutai Tuoketuo's 2 million tons/year methanol unit will be installed in January 2024. It was shut down from January 5th to 11th. Shaanxi Weihua's 400,000-ton unit started maintenance for seven days on the 10th. Southwest gas plants restarted on the 25th, Jiuyuan and Sichuanwei on the 25th and 9th respectively.

Fundamental overview: According to the Natural Rubber Network, the main production areas at home and abroad are approaching the off-season of supply, coupled with the replenishment of upstream factories, raw material prices are firm