Price trend

The latest price of ethylene glycol on June 14 was 5,160 yuan / ton, which was unchanged from the previous trading day and a year-on-year increase of 4.24%.

Analysis review

Oil prices rose in volatile trade on Tuesday as tight global supplies outweighed concerns that fuel demand could be hit by a recession and domestic restrictions on the virus. Under the support of cost, ethylene glycol rebounded slightly on the 14th, the basis negotiation strengthened slightly, and the external market rose slightly in the afternoon. Recently, the negotiated price of cargo was around 635 US dollars/ton, but the overall transaction of the ethylene glycol market was still light, and the enthusiasm of production enterprises was low due to efficiency reasons.

The fluctuation of MEG port inventory was limited. As of June 13, the total amount of ethylene glycol inventory in the main port in East China was 1,148,100 tons, an increase of 2,100 tons or 0.18% from last Monday, and a decrease of 1,700 tons from last Thursday, a decrease of 0.15%.

The downstream PFY market sales were weak, some polyester manufacturers shut down for maintenance, the polyester operating rate dropped slightly, and the market outlook was cautious to watch.

Market outlook

It is difficult to expect a substantial increase in terminal demand, and ethylene glycol will fluctuate in a range.

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