In the case of the industry's general bearishness, the general price cuts have finally been implemented. This week, the price of ethylene oxide has plunged by 500-600 RMB/ton. After adjustment, the mainstream ex-factory price in other regions is 7,000 RMB/ton except South China, which is 7,200 RMB/ton.
Ethylene prices traded sideways, and CFR Northeast Asia closed at 800.00 US dollars/ton. Ethylene glycol is operating weak, but as far as the current situation is concerned, the degree of correlation between ethylene glycol and ethylene oxide prices is decreasing due to the greater impact of inventory and arrivals. The downstream monomer and choline atmosphere is bleak, demand is weak, inventory pressure is increasing, and fundamental support is weak, restraining the upward expectation of ethylene oxide. After the general drop in ethylene oxide, monomer prices have also been adjusted downwards. The later market trend depends on the recovery of demand after the end of the rainy season.
At present, the decline is mainly digested and stable, and it’s needed to pay close attention to changes in supply and demand.
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