Domestic ethylene glycol prices continue to rise and will remain high and volatile in the short term

The domestic ethylene glycol market price continued to rise last week. The average domestic ethylene glycol market price at the beginning of last week was 5,545 yuan/ton. The average domestic ethylene glycol market price at the end of last week At 5808 yuan/ton, the increase last week was 4.75%, and the year-on-year price increased by 11.70%.

Market Analysis

Product: Last week, the domestic ethylene glycol market price continued to rise, the atmosphere of on-site discussions was active, the electronic trading increased significantly in early trading, the ethylene glycol spot market sentiment was high, and orders were placed Prices are rising, and discussions are active in the ethylene glycol market in East China. The mainstream offer is around 5,850 yuan/ton. Trade in this region is optimistic about the market outlook for ethylene glycol. The ethylene glycol market price in South China has been raised, with the mainstream transaction price in the market at 5,860 yuan. / ton; the ethylene glycol market in North China is generally stable, with market transaction prices around 5,890 yuan / ton, downstream demand is basically stable, and market transaction volume performance is acceptable.

Industrial chain: The upstream crude oil market has fluctuated and declined. Crude oil prices have continued to decline this week, putting certain upward pressure on the ethylene glycol market. The external market price of ethylene glycol is rising, and there are more funds on the market to make profit, and the continued increase is showing some strength; the load of the downstream polyester manufacturers remains at around 80%, and the manufacturer’s terminal production and sales performance is good, and the procurement of ethylene glycol raw materials is Intentions are stable, providing support for the demand for ethylene glycol.

Industry: The domestic ethylene glycol market continued to rise last week, the inventory of major domestic ports remained reasonable, the operating rate of domestic ethylene glycol production enterprises remained at around 65%, and manufacturers’ inventories At a low level, shipments are relatively smooth; at present, domestic polyester manufacturers are operating at high load, and the terminal production and sales of the polyester industry are performing well. With the external economic situation still unclear, the crude oil market is weak and volatile, and the domestic ethylene glycol market is expected to be weak in the short term. Prices may fluctuate at high levels, and there will be greater upward pressure.

Market Outlook

Ethylene glycol analysts believe: Domestic downstream polyester manufacturers have good production and sales, downstream procurement demand is stable, the overall supply and demand of the ethylene glycol market is balanced, and the ethylene glycol market price hits a new high during the year , the upward pressure continues to increase, and the ethylene glycol market price is expected to remain high and volatile in the short term.

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