Price trend

According to the data of SunSirs, on January 28, the average price of oil-based ethylene glycol was 5,275 yuan / ton.

On January 27, the spot price in the East China market rose, with an average price of 5387.5 yuan/ton, an increase of 507.5 yuan/ton compared with the price at the beginning of this month, an increase of 10.4%.

Analysis review

In terms of inventory, as of January 28, the total inventory of ethylene glycol in the main port in East China was 681,000 tons, a decrease of 4,000 tons or 0.58% from last Friday.

In terms of installations: Zhejiang Petrochemical's 750,000-ton MEG unit has been restarted, with a current load of about 80%, which was previously stopped on January 4; Fude Energy's 500,000-ton ethylene glycol unit restarted on January 25.

This month, ethylene glycol followed the fluctuation of crude oil and rose. From the perspective of cost, crude oil prices were firm and continue to fluctuated at high levels, reaching historical highs for a time. Coal shipments were in good condition, and there were strong supports on the cost side. From the perspective of the supply side, the previous maintenance devices will also be restarted one after another, and the MEG operating rate has gradually increased this month. As the Spring Festival is approaching, the Spring Festival maintenance plan for downstream polyester factories has been promoted, resulting in a decline in operating rate and weak demand, which has put pressure on the supply and demand of ethylene glycol.

Market outlook

Wide fluctuations, pay attention to the impact of the trend of raw materials.

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