Shenwan Hongyuan: Domestic coal-based olefin production units operate at stable capacity; methanol inventory steadily increases

The average operating rate of domestic coal (methanol) to olefins (OTO) units is 80.88%, unchanged from the previous period. During this cycle, stable operation of olefin units has led to overall stability in domestic CTO/MTO operations. As of February 26, the overall operating rate of domestic methanol plants is 78.24%, down 0.19 percentage points from the previous period, but up 5.13 percentage points year-on-year. Overall, methanol deliveries from coastal public storage areas have significantly decreased, while imported ships are arriving and unloading, causing coastal methanol inventories to gradually rise. As of February 26, coastal methanol inventories stand at 1.3987 million tons (currently still at a historically high level), up 10,700 tons from February 12, an increase of 0.77%, and up 35.14% year-on-year. The total available methanol supply in coastal areas is estimated to be around 699,000 tons. According to incomplete statistics from Zhuochuang Information, the expected arrival volume of imported ships in China from February 27 to March 15 is between 500,700 and 510,000 tons.