SunSirs: Demand Improved in March, and Ethylene Oxide Prices Were Strong
April 04 2023 11:40:55 SunSirs (John)
Ethylene oxide prices rebounded in March
According to data from SunSirs, on March 31, 2023, the average spot market price of ethylene oxide in China was 7,200 RMB/ton, up 2.86% from the price of 7,000 RMB/ton at the beginning of the month.
Analysis review
Overall, the resumption of terminal production and the improvement of downstream demand were one of the main reasons for the stronger price of ethylene oxide.
On the supply side, ethylene oxide production capacity was relatively stable, the price of raw ethylene was relatively stable, and cost support was strong. On the demand side, the main downstream polycarboxylic acid water reducing agent monomer was recovering after the holiday, especially the terminal real estate operating rate, and the demand was expected to be large. By the end of March, the production enthusiasm of polycarboxylic acid water reducing agent monomer enterprises had increased, and the procurement atmosphere for ethylene oxide had improved. In the early stage, when the fundamentals of ethylene oxide were weak, ethylene oxide manufacturers and holding traders began to increase their prices.
Market outlook
The terminal demand has improved, the downstream demand has increased, and the main downstream polycarboxylic acid water reducing agent monomer market has improved, and the demand for ethylene oxide is expected to improve. In March, ethylene oxide prices continued their strong momentum in February, and it is expected that in the short term, ethylene oxide prices will continue to fluctuate to be stronger.
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