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SunSirs: Oil Prices Rebounded and Ethylene Glycol Prices Picked Up (March 30-April 3)
April 07 2020 13:14:45SunSirs(John)

Price trend

According to the monitoring data of SunSirs, on April 3, the average ex-factory price of oil-made glycol in North China was 3,500 RMB/ton, down 3.67% from last Friday. On April 3, the price of large ethylene glycol cans in East China was 3,380 RMB/ton, up 490 RMB/ton from Monday, an increase of 16.96%.


Analysis review   

As of April 2, ethylene glycol stocks in the mainstream reservoir area of East China were approximately 1,120,600 tons, an increase of 66,100 tons or 6.27% from last Thursday, an increase of 76,800 tons or 7.36% from Monday, and continued to accumulate.

In terms of shipments, this week Zhangjiagang's main port delivered an average of approximately 50,100 tons per day, and Taicang's two warehouses delivered an average of approximately 38,800 tons per day, which continued to be sluggish.

At present, the ethylene glycol operating rate is about 66%, and the downstream polyester operating rate is about 79%, which is lower than last week.

In terms of installation, Yangmei Coal Group ’s Pingding Chemical Ethylene Glycol Plant has been shut down for maintenance, and the driving time is uncertain; Inner Mongolia Elcometer Coal Chemical Ethylene Glycol Plant is expected to be overhauled for one month; Yongjin Chemical ’s ethylene glycol plant was shut down for repair at the end of March.


Market outlook

Due to poor downstream construction, ethylene glycol prices continued to decline in the first few days of this week. International oil prices rebounded sharply on Thursday, driving chemical products to rise sharply within the day, and the cost of ethylene glycol was also supported, which also boosted market sentiment.

At present, coal-to-ethylene glycol has a large profit loss, and the profit of naphtha remains near the profit and loss line. Later, the price of ethylene glycol needs to focus on the trend of crude oil.


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