February 3rd News On February 3rd, Yankuang Group's methanol auction results: Yulin Yankuang's methanol starting price was 1,780 yuan/ton, with a volume of 3,000 tons, partially traded at this price. The company's Phase I 600,000 tons/year methanol plant and Phase II 800,000 tons/year coal-to-methanol plant are operating normally. Yankuang Guohong's methanol competitive bidding resulted in a final transaction price of 2,130–2,135 yuan/ton ex-factory cash payment, with its 640,000 tons/year coal-to-methanol plant operating under dual-furnace conditions. Chempricehub's methanol analysis, with a long-short score of -1.5, indicates 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 ranged from 2,130 to 2,135 yuan/ton. The normal operation of the plants (Yulin: 1.4 million tons/year, Guohong: 640,000 tons/year) suggests ample supply. This reflects weak spot market demand and price pressure, which is bearish for the spot market. Combined with methanol futures data (Contract 2701 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.