SunSirs: Weekly Review on Ethylene Glycol (April 30-May 7)
May 09 2022 13:58:34 SunSirs (John)
Price trend
During the week, ethylene glycol rebounded slightly. According to data from SunSirs, on May 7, the average price of oil-based ethylene glycol was 4,975 RMB/ton, an increase of 100 RMB/ton compared with the previous statistical cycle..
Analysis review
Crude oil continued to fluctuate at a high level, as the imminent EU sanctions on Russian oil raised the prospect of tighter supply and freed the industry from worries about global economic growth. Oil prices rose nearly 1.5% on Friday, rising for a second week in a row, the cost side supported firm.
The ethylene glycol market was mainly stable with small fluctuations, and the operating rate remained around 50% above. The downstream polyester start-up load was low, production and sales continued to be weak, and the actual demand recovery remained to be seen. The main port inventory continued to be high. As of May 5, the total amount of ethylene glycol inventory in the main port in East China was 1.1413 million tons.
Market outlook
The ethylene glycol market will be range-bound next.
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- 2023-09-04 SunSirs: The Support of Raw Material Costs Enhanced, and Ethylene Glycol Prices Rose on September 1st
- 2023-08-30 SunSirs: On August 28th, the Price of Ethylene Glycol Moved Down
- 2023-08-02 SunSir: Ethylene Glycol Prices Rose by 3.87% in July and May Fluctuate and Consolidate in August
