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SunSirs: Ethylene Oxide Summary of This Week (October 19-23)
October 26 2020 14:47:29SunSirs(John)

Price trend

The price of ethylene oxide was going sideways this week, and the mainstream east China ex-factory price was 7,200 RMB/ton.

Analysis review   

The ethylene market in Northeast Asia was weakly consolidating. As of the 22nd, CFR Northeast Asia closed at 810.00 US dollars/ton, with weak cost support. The downstream monomer market is sluggish, inventory is accumulated and the demand outlook is not very optimistic. The bearish atmosphere may continue, which will have a certain inhibitory effect on the upward adjustment of ethylene oxide prices. However, the supply of ethylene oxide is tight, and the situation that one product is hard to find still exists. Under the long-short game, the possibility of price movement is extremely low. Currently, Maoming Petrochemical’s overhaul has been postponed, and Sino-Korea Petrochemical, Serbon and Wuhan Petrochemical are in shutdown.

Market outlook

The overall market is stable.  Market participants pointed out that Jilin Petrochemical plans to raise 50 RMB/ton.

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