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SunSirs: Weak Supply and Demand and Glycol Market Downturn (December 2-6)
December 09 2019 13:29:31SunSirs(John)

Price trend

According to the data of SunSirs, the average ex factory listing price of oil-based glycol in North China on December 6 was 4,833 RMB/ton, up 0.69% from last week.

At the beginning of this week, the price of large-scale single can of ethylene glycol in East China was 4,680 RMB/ton. After a week's consolidation, the price was 4,710 RMB/ton by Friday, slightly rising.


Analysis review        

As of yesterday, the total operating rate of domestic glycol was 59.85%, including non coal load of 58.96% and coal production load of 61.1%, with a steady decline.

The production and sales of downstream polyester performance slightly contracted, some polyester factories successively issued maintenance plans, and overall demand gradually weakened.

As of Thursday, the main port of East China's glycol port inventory was about 364,400 tons, an increase of 25,700 tons from Monday, an increase of 5.53%. Among them, Zhangjiagang had an inventory of 172,400 tons, Taicang had an inventory of 45,000 tons. This week, the average daily delivery of glycol in Zhangjiagang was 10,700 tons, while that in Taicang was 35,000 tons.


Market outlook

According to glycol analysts of SunSirs, due to the early Yangtze River Closure and other reasons, glycol was delayed to the Port. Due to the poor delivery situation after arrival this week, the accumulated storage of terminal glycol had become a reality. Manufacturers are currently operating stably, and downstream procurement intentions are sluggish. It is expected that ethylene glycol prices will continue to consolidate in the near future.


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