On February 3, the methanol auction of Yankuang Group: Yulin Yankuang's methanol starting price was 1,780 yuan/ton, with a quantity of 3,000 tons, partially traded at this price; the company's Phase I 600,000 tons/year methanol plant + Phase II 800,000 tons/year coal-to-methanol plant are operating normally. Yankuang Guohong's methanol auction sales were concluded at 2,130-2,135 yuan/ton ex-factory cash payment, with the 640,000 tons/year coal-to-methanol plant operating with dual furnaces. PriceSeek's analysis of methanol, long-short score: -1.5. The article shows that in Yankuang Group's methanol auction, Yulin's starting price of 1,780 yuan/ton was only partially traded, while Guohong's transaction price was 2,130-2,135 yuan/ton. The normal operation of the plants (Yulin 1.4 million tons/year, Guohong 640,000 tons/year) indicates sufficient supply. This reflects weak spot market demand, price pressure, and a bearish impact on the spot market. Combined with methanol futures contract 2701 data (closing price on February 2, 2026: 2,318 yuan/ton, down 49 yuan, with reduced open interest), market bearish sentiment has intensified, potentially further dragging down futures prices.