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SunSirs: Inventory Declines and Ethylene Glycol Prices Rebound
January 07 2020 10:20:01SunSirs(John)

Ethylene glycol inventories in East China's main port have declined significantly. As of January 6, total ethylene glycol inventories in East China's main port were approximately 365,000 tons, a decrease of 52,000 tons from last Thursday, a decrease of 12.47%, and a decrease of 7.1 from Monday. 10,000 tons, a decrease of 16.28%. Among them, Zhangjiagang was 172,000 tons, a decrease of 16,000 tons from last Thursday; Ningbo 70,000 tons; Shanghai and Changshu 45,000 tons; Taicang 48,000 tons.

In addition, due to the tension between the United States and Iran, crude oil prices have risen, and the price of glycol has been supported by cost.

In terms of futures, the trend of the 2005 ethylene glycol main contract was stronger today, closing at 4753 yuan per ton, an increase of 2.37%.

The ethylene glycol analysts of SunSirs believe that although the new ethylene glycol plant has been put into production, it is still in the trial production stage and has less output. The surge in crude oil has strong support for prices, and there is room for ethylene glycol to rise in the near future.

 

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