List of ethylene glycol prices
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According to data from Business News Agency, on June 30th, the average price of domestic oil to ethylene glycol was 3963.33 yuan/ton, with a monthly decrease of 3.41%. The prices in various regions are as follows:
The price range for spot goods executed by mainstream manufacturers in East China is between 3800-4075 yuan/ton; The spot price of ethylene glycol in the South China market is 3900 yuan/ton, while the price range for mainstream manufacturers in Central China is 3850 yuan/ton; The spot price for mainstream manufacturers in North China is 4150 yuan/ton.
On June 28th, the CIF price of ethylene glycol in China was $448/ton, a decrease of $2/ton; The CIF Southeast Asia price is 473 US dollars per ton.
At present, the price of coal based ethylene glycol is relatively low, with factory prices ranging from 3450 to 3500 yuan/ton.
June Ethylene Glycol Fundamentals
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From the perspective of the supply side, there are plans to restart domestic maintenance devices in the near future, and there is an expectation of a rebound in supply in the future. A 750000 ton/year ethylene glycol plant in Zhejiang recently restarted, which had previously shut down in early May. The daily load of the 700000 ton unit of Fujian Gulei Petrochemical has been reduced from 85% to around 80%, which has little impact on the overall supply.
In terms of demand: The overall production and sales of polyester fibers in Jiangsu and Zhejiang have declined, and the production of weaving machines in Jiangsu and Zhejiang has declined slightly. Currently, the polyester load has not changed significantly, and further observation is needed.
In terms of imports, some maintenance devices in the Asian region are planned to restart in the early stage, and it is expected that the import volume of ethylene glycol may rebound in the future.
July ethylene glycol variables
At the end of June, coal and ethylene prices bottomed out and rebounded. The news of Iran’s installation drove up methanol prices, supporting ethylene glycol prices to some extent on the cost side. The decline in crude oil inventory in July, coupled with high temperatures, has sparked market concerns about electricity consumption. The rise in overseas natural gas has boosted energy prices, and crude oil has continued to rebound. Coupled with domestic macroeconomic policy expectations, there are some cost side positive expectations to some extent.
From the perspective of supply and demand fundamentals, there is an expectation of an increase in the supply side of ethylene glycol in July. Downstream demand is affected by the weakness of the terminal, and it remains to be seen whether the current high start-up rate can be maintained. Overall, the expectation of a weakening of ethylene glycol supply and demand month on month is expected.
The dynamic game between cost and supply sides may intensify in July, and it is expected that ethylene glycol will continue to experience weak fluctuations in July.
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