Price trend

The latest price of ethylene glycol on May 17 was 5,008.33 RMB/ton, which was unchanged from the previous trading day.

Analysis review

Oil prices edged lower on Tuesday as investors took profits on a recent rally as Hungary insisted on signing a Russian oil embargo that tightened global supplies. On the 17th, the MEG outer market fluctuated within a narrow range, and the recent negotiated price of the cargo was around 620 US dollars/ton.

Ethylene glycol is currently less economical, the operating rate has declined slightly, the co-production unit has switched to EO production, and the supply side is generally stable. The downstream polyester construction has not improved much, and the demand has not improved substantially.

In terms of inventory, as of May 16, the total inventory of ethylene glycol in the main port in East China was 1.1511 million tons, a decrease of 2,100 tons or 0.18% from last Monday, and a decrease of 10,500 tons from last Thursday, a decrease of

Market outlook

It is estimated that ethylene glycol will be range-bound at low levels.

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