The price of ethylene glycol began to loosen in April
| Gamma-PGA (gamma polyglutamic acid) |
The price of ethylene glycol was weak in April. According to data from Business Society, as of April 19th, the average price of domestic oil to ethylene glycol was 4490 yuan/ton, a decrease of 0.52% compared to the average price of 4513.33 yuan/ton in the East China market on April 1st. The prices for each region are as follows:
The price range for spot goods executed by mainstream manufacturers in East China is between 4400-4700 yuan/ton; The spot price of ethylene glycol in the South China market is 4400 yuan/ton, while the mainstream manufacturers in Central China have a spot price range of 4350 yuan/ton for external execution; The mainstream manufacturers in North China offer a spot price of 4500 yuan/ton for external transactions.
In April, the inventory of ethylene glycol at the port increased first and then decreased
In April, the inventory of ethylene glycol at the port began to shift from the previous state of destocking to platform fluctuations. The current absolute value of inventory is in the historical middle zone. As of April 18, 2024, the total spot inventory of ethylene glycol in the main port of East China was 812700 tons, an increase of 40300 tons compared to the total spot inventory of ethylene glycol in the main port of East China on April 3, 772400 tons; Compared to the total spot inventory of ethylene glycol in the main port of East China on April 11th, which was 863400 tons, a decrease of 50700 tons.
Fundamental Overview and Market Forecast
Recently, the domestic supply of ethylene glycol has slightly increased, but the absolute value is still relatively low. Currently, most foreign facilities have returned to normal, and the import volume to port has gradually returned to a high level. However, downstream polyester has performed well, and the accumulation of port inventory in the short term is mainly due to the decrease in ethylene glycol stocking days in downstream polyester factories. At present, the price has fallen to a relatively low level, and the downward space is gradually narrowing. It is expected that the price of ethylene glycol will gradually enter a sideways range in the short term.
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