The latest p-value price of ethylene glycol on March 28 was 5200RMB/ton, up 1.13% from the previous trading day and down 2.80% year-on-year.

In terms of units, a new 400000 ton syngas MEG unit in Guanghui, Xinjiang was put into operation as planned last week, and products are expected to be produced near the end of the month; A 300000 ton ethylene glycol plant in Shanxi Meijin has been put into operation and produced qualified products. At present, it is in low load operation. Two sets of MEG units with a total of 1.55 million tons / year in Zhejiang have successively reduced the load recently. A set of MEG unit with a total of 500000 tons/year in Fujian is planned to reduce the production by 20% in April due to the impact of cracking and reducing the load.

Today, the ethylene glycol market rose slightly, Meg's external market was strong, and the recent cargo negotiation was estimated to be around 690 US dollars/ton. Although the crude oil price fell today, the overall trend range is still at a high level, and ethylene glycol enterprises suffer serious losses. The load reduction plan of two sets of MEG units in Zhejiang and one set in Fujian is beneficial to the ethylene glycol market, and the market enthusiasm has been improved. The polyester plant is expected to reduce the burden, but the downstream textile demand has not been greatly improved. High raw material prices are hard to shake the weak demand, so we need to pay close attention to the changes in supply and demand.

Forecast: wide range shock.

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