Price trend

According to data from SunSirs, on August 13, the average price of oil-based ethylene glycol was 5,426.67 RMB/ton, a decrease of 73.33 RMB/ton from the previous statistical cycle.

On August 12, the market price of ethylene glycol in East China rose, and the average spot price in East China was 5,571 RMB/ton, a decrease of 166 RMB/ton from Monday, a drop of 3.03%.

Analysis review

In terms of inventory, as of August 12, the total ethylene glycol inventory in the main ports of East China was 471,400 tons, a decrease of 14,600 tons from last Thursday, a decrease of 3%, and a decrease of 18,600 tons from Monday, a decrease of 3.79%.

Equipment: Although Gulei Petrochemical currently plans to start its cracking unit around August 20, there are still uncertainties. The resumption of work in Weihe Binzhou and Jianyuan has been postponed, and the effective recovery of the operating rate of the coal-to-ethylene glycol plant is expected to be by the end of the month.

The rebound of the global epidemic has forced governments to restrict travel. Demand for crude oil and oil products has shrunk, and crude oil prices have also peaked and fallen. In terms of demand, recently, the operating rate of downstream polyester has been lowered again, polyester sales are sluggish, inventory is overstocked, and manufacturers intend to reduce production. Coupled with the increase in the number of arrivals to port in the past two weeks, Xinjiang Tianye, Xinjiang Tianying, Anhui Hongsifang and other sets of equipment restarted after maintenance, and the supply side was under slight pressure.

Market outlook

The fundamentals are weak, and weak shocks are expected.

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