Glycol prices rose slightly in January
| Chitosan oligosaccharide |
In January 2023, the price of ethylene glycol moved up. According to the data of Business News Agency, on January 30, the average price of domestic oil to ethylene glycol was 4375 yuan/ton, and the average market price at the beginning of the month was 4050 yuan/ton, up 8.02%.
On January 30, the spot price of ethylene glycol in the East China market was basically stable, and the spot price range of mainstream manufacturers in East China was 4240-4350 yuan/ton; The spot price of ethylene glycol in the South China market is basically stable, and the spot price range of mainstream manufacturers in South China is 4250 yuan/ton; The spot price of ethylene glycol in the North China market was basically stable, and the spot price of mainstream manufacturers in North China remained at 4350 yuan/ton.
Downstream polyester market is good, which is good for ethylene glycol price. The spot center of gravity of ethylene glycol has moved up, and the production of large units has been reduced and changed, which has boosted market confidence and superimposed market expectations for demand recovery. As of January 29, 2023, the overall starting load of ethylene glycol in China was 59.6%, down 4.3 percentage points on a month-on-month basis, and the coal load remained about 57%, relatively stable. The integrated device stopped unexpectedly and the device load decreased.
| Gamma-PGA (gamma polyglutamic acid) |
Overview of fundamentals
In terms of inventory, as of January 29, 2023, the inventory of the main storage area of ethylene glycol in East China was 1.0327 million tons, with seasonal accumulation.
In terms of supply, affected by the shutdown and decline of some large plants during the Spring Festival, the EG operation rate has dropped to 60%, and will be gradually restored after the festival. At present, the output of domestic stock devices is expected to continue to increase in the near future, and the total supply of EG may continue to increase.
Aftermarket forecast
In January, the price of ethylene glycol recovered, on the one hand, due to the impact of oil price driving and low valuation of itself, on the other hand, due to the reduction and conversion of large units, which boosted market confidence, the price may rebound. However, the supply and demand structure of medium and long term fundamentals is still weak, and it is expected that the volatility probability of glycol price platform will increase.
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