February 6th News: On February 6th, Yankuang Guohong conducted a methanol bidding sale, which ultimately failed to attract buyers at a price of 2,120 yuan/ton ex-factory with cash payment. The 640,000-ton/year coal-to-methanol plant is currently operating with two furnaces, with plans to switch to three furnaces in the near future. Chempricehub's analysis of methanol gives a long-short score of -1.5. The failed bidding sale at 2,120 yuan/ton indicates weak spot market demand, with prices falling below the futures reference value (e.g., the MA2605 contract settlement price of 2,250 yuan). The planned operation of three furnaces will increase supply, exacerbating the supply-demand imbalance. Combined with the recent downward trend in the futures market, this news reinforces bearish expectations and may further depress both spot and futures prices.