Price trend

According to data from SunSirs, on August 28th, the average price of domestic ethylene glycol produced by oil method was 4,060 RMB/ton, a decrease of 1.97% compared to 4,141.67 RMB/ton at the beginning of the month. The prices in various regions were as follows:

The price range for spot goods executed by mainstream manufacturers in East China was 3,900-4,160 RMB/ton; The spot price of ethylene glycol in the South China market was 4,050 RMB/ton, while the mainstream manufacturers in Central China had a spot price range of 3,900 RMB/ton for external execution; The spot price for mainstream manufacturers in North China was 4,160 RMB/ton.

On August 24th, the CIF price of ethylene glycol in China was 467 US dollars/ton; The CIF Southeast Asia price was 469 US dollars per ton.

Ethylene glycol fundamentals

Affected by the reduction in raw material crude oil production in July and the upward trend in domestic coal prices, the cost support for ethylene glycol had strengthened compared to the previous period.

On the demand side: downstream polyester maintained high operating rates, with a polyester operating rate of over 90%; Terminal new orders followed up slightly month on month, but remained at a low level year-on-year.

From the supply side, the operating rate of domestic ethylene glycol was still high, and some devices had restarted. The load of Shenghong Refining and Chemical's 1 million ton unit had been lifted to 70-80%, and the Shaanxi Coal Yulin unit had been restored. As of August 28, it was still in the stage of oversupply.

In terms of port inventory, as of August 28th, the inventory of ethylene glycol at the East China main port was 1.0716 million tons. Recently, there was a concentration of port arrivals, and there was a phenomenon of accumulated inventory in the data.

Market outlook

In July, due to the influence of raw material prices, there was stronger support for the cost of ethylene glycol; However, the supply and demand fundamentals were still weak, and after the correction of ethylene glycol prices in August, it gradually entered the gaming platform range. As of August 28, the supply and demand of ethylene glycol were both strong, and it is expected that ethylene glycol will enter a fluctuating range in the short term, and the trend is weaker.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.