The prices of thylene oxide in East China continued to stabilize this week. The ex-factory price in East China was 8,000 RMB/ton, and that in South China and North China was 8,200 RMB/ton. In Central and Northeast China, the price was lowered to 8,100 RMB/ton. The ex-factory price in Silbang Petrochemical Company of Jiangsu was 8000 RMB/ton, and that in Lianhong Group was 8200 RMB/ton.
Upstream ethylene and downstream ethylene glycol rose up, but the momentum for further increase was limited in the later period. Narrow amplitude shocks were dominant. The supply of polycarboxylic acid water reducer was excessive, prices declined, downstream demand weakened, and the basic support strength was general. Market bearish atmosphere is strong.
In the short term, stability will be the mainstay. If the downstream weak situation does not improve, there may be a decline.
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