January 12th — Recently, the annual production project of 350,000 tons of green methanol by Inner Mongolia Yide Hydrogen Energy Technology Co., Ltd. in Guyang County, Baotou City, Inner Mongolia, has been approved for filing. With a total investment of 4.8 billion yuan, the project utilizes new energy wind power in Guyang County to produce green hydrogen through water electrolysis, which is then coupled with green carbon synthesis gas from biomass gasification to synthesize 350,000 tons of green methanol annually. Chempricehub's analysis of methanol indicates a bearish score of -1. The project adds an annual supply of 350,000 tons of green methanol, which is expected to increase market supply and exert downward pressure on spot prices. Combined with methanol MA futures data, the closing price of the main contract 2605 is 2,273 yuan per ton. The expectation of supply expansion may put pressure on futures prices, leading to downward pressure on future contracts.
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