In May, the price of ethylene glycol first fell and then rose

The price of ethylene glycol was weak in June. According to data from SunSirs, as of June 20th, the average price of domestic oil to ethylene glycol was 4,526.67 RMB/ton, a decrease of 0.94% compared to the average price of 4,484.17 RMB/ton in the East China market on June 1st. The prices for each region were as follows:

The price range for spot goods executed by mainstream manufacturers in East China was between 4,400-4,800 RMB/ton; The spot price of ethylene glycol in the South China market was 4,450 RMB/ton, and the price range for mainstream manufacturers in Central China was 4,300 RMB/ton; The mainstream manufacturers in North China offered a spot price of 4,500 RMB/ton for external transactions.

On June 20, 2024, the mainstream inventory basis price of ethylene glycol was between -33 and -30 RMB/ton, and the futures market price rose. The basis price in East China slightly increased during the day, but showed a strengthening trend in the afternoon. The closing price rose to -29 to -25 RMB/ton. As of June 20th, the basis of forward contracts remained in a near low and far high pattern. As of June 20th, the spot price of ethylene glycol at the port was between 4,460-4,475 RMB/ton.

Port inventory fluctuated horizontally in June

In June, the port inventory showed a sideways fluctuation with a slight increase. As of June 20th, the inventory of ethylene glycol in the main port of East China was 749,600 tons, an increase of 24,500 tons compared to the inventory of 725,100 tons on May 30th.

In June, ethylene glycol may mainly operate in a oscillatory manner

The focus of the ethylene glycol game in June is on downstream polyester demand and supply side variables. In the short term, it is expected that ethylene glycol will mainly operate in a volatile manner in June.

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