Recently, the Baotou Guyang County 350,000-ton green methanol production project of Inner Mongolia Yide Hydrogen Energy Technology Co., Ltd. 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.
PriceSeek analysis of methanol, long-short score: -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 main contract 2605 closed at 2,273 yuan/ton. The expectation of supply expansion may put pressure on futures prices, leading to downward pressure on future contracts.
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