Price trend

According to the data of SunSirs, on May 20, the average price of oil-based ethylene glycol was 5,008.33 RMB/ton, which was the same as the previous statistical period.

Analysis review

Oil prices fell on Friday as investors worried that weak global growth and tighter monetary policy by central banks could dampen a recovery in fuel demand. The cost side was slightly loose, the outer disk market price of ethylene glycol was weak, and the actual order transaction was sporadic. The recent negotiated price of cargo was around 610 US dollars/ton.

On the downstream side, the current terminal is sluggish, the downstream orders are not good, and the production and sales of the polyester market in Jiangsu and Zhejiang are generally flat. At present, ethylene glycol continues to lose money, ethylene oxide is more economical than ethylene glycol, and co-production units tend to produce EO.

In terms of inventory, as of May 19, the total amount of ethylene glycol inventory in the main port in East China was 1.1873 million tons, an increase of 25,700 tons or 2.21% from last Thursday, and an increase of 36,200 tons from Monday, an increase of 2.21%.

Market outlook

Prediction: Ethylene glycol will fluctuate at a low level in a low range in the short term.

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