1、 Price trend
| Gamma-PGA (gamma polyglutamic acid) |
According to the data of business agency, on February 25, the average price of P value of oil-based ethylene glycol was 5133.33 yuan / ton, down 41.67 yuan / ton compared with the previous statistical cycle.
According to incomplete statistics, between February 24 and March 2, the total expected arrival of major terminals in East China is about 182500 tons, down from the previous statistical cycle.
2、 Analysis of influencing factors
In terms of units: Zhejiang Petrochemical is expected to reduce production by 15 ~ 20% next month, with a total of about 30000 tons.
Ethylene glycol rose and fell this month, and the profit margin remained low. Ethylene glycol market this month is mainly affected by crude oil disturbance. Affected by the tense situation in Russia and Ukraine, the upstream crude oil market is worried that the outbreak of war in Europe may disrupt the global energy supply. Brent and US WTI oil prices once hit an intraday high of more than US $100 / barrel, with strong cost support. However, the ethylene glycol market is still dragged down by oversupply, the port inventory is still high, and the oversupply situation will continue in March. Today afternoon, the center of gravity of ethylene glycol outer plate fell, and the recent cargo negotiation was $665 / ton. From the demand side, it will take time for the downstream to improve. At present, the terminal digestion is not strong and the improvement is limited in a short time.
3、 Forecast: low and wide range shocks, and attention should be paid to the improvement of demand and the impact on the crude oil market.
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