According to the data of business agency, on July 8, the average p value of oil glycol was 4608.33 yuan / ton, down 71.67 yuan / ton from the previous trading day, down 1.53% year-on-year.
Upstream, oil prices rose, continued to be supported by concerns about the prospects of tight supply, but the global economic recession curbed the rise in oil prices. And there is still uncertainty on the supply side of crude oil in the later stage, which may continue to consolidate. At present, ethylene glycol is at a loss, and the operating rate of MEG device is still gradually decreasing. Although the port inventory has been slightly removed from the warehouse, the overall inventory remains high. As of July 7, the total inventory of ethylene glycol in the main port of East China was 1.248 million tons, a decrease of 24900 tons, a decrease of 2.02%, and a decrease of 21000 tons, a decrease of 1.71%, compared with Monday. The supply and demand side is weak, the production reduction plan of downstream polyester plants is gradually implemented, and the demand side continues to be weak.
Prediction: narrow range oscillation.
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