1、 Price trend
The average ex factory price of oil to ethylene glycol in North China on July 24 was 3600 yuan / ton, slightly lower than that of last week, according to business agency data.
| ferric sulfate (Poly ferric sulphate) |
On July 23, the market price of ethylene glycol in East China was 3565 yuan / ton, up 90 yuan / ton or 2.59% over the same period last week.
2、 Analysis of influencing factors
As of July 23, the total ethylene glycol inventory in the main ports of East China was 1412000 tons, an increase of 9900 tons or 0.71% compared with last Thursday, and a decrease of 12200 tons or 0.86% compared with Monday. Although the shipment is not smooth, there is no obvious accumulation of inventory due to less arrivals.
In terms of shipment, this week, the average daily delivery of Zhangjiagang main port was about 6000 tons, and that of Taicang was about 7000 tons, which was lower than that of last week.
At present, the operating rate of ethylene glycol is about 51%, and that of polyester is about 88%, which is not obvious compared with last week.
| Azodicarbonamide (AC foaming Agent) |
In terms of equipment, the overhaul time of ethylene glycol unit with an annual output of 360000 tons of Xinhang energy in Ordos City, Inner Mongolia, will be postponed to July 25, with an estimated maintenance time of about 25 days. 8% of the world’s ethylene glycol production capacity will be shut down or reduced by the end of July, involving more than 3 million tons.
In terms of futures, due to the positive demand of downstream polyester industry and the expected reduction of import sources, ethylene glycol futures have been more volatile recently.
3、 Analysis and prediction
Due to the decrease of arrival volume this week, the price of ethylene glycol is expected to rise to a certain extent, and the market price has increased. However, due to the long-term high inventory and low shipment level, the price support is weak. Although there is a follow-up news of polyester plant restart, but the loom operating rate has declined, the terminal demand is insufficient. Therefore, from the perspective of supply and demand, the price of ethylene glycol will still be in a volatile situation.
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