SunSir: Ethylene Glycol Prices Rose by 3.87% in July and May Fluctuate and Consolidate in August

List of ethylene glycol prices

According to data from SunSirs, as of July 31st, the average price of domestic ethylene glycol produced by oil was 4,116.67 RMB/ton, an increase of 3.87% compared to the beginning of the month. The prices in various regions were as follows:

The price range for spot goods executed by mainstream manufacturers in East China was between 4,000-4,125 RMB/ton; The spot price of ethylene glycol in the South China market was 4,050 RMB/ton, while the mainstream manufacturers in Central China ha, a spot price range of 3,900 RMB/ton for external execution; The spot price for mainstream manufacturers in North China was 4,150 RMB/ton.

On July 31st, the CIF price of ethylene glycol in China was 484 US dollars/ton; The CIF Southeast Asia price was 488 US dollars/ton.

Ethylene glycol fundamentals

Affected by the reduction in raw material crude oil production in July and the upward trend in domestic coal prices, the cost support for ethylene glycol had strengthened compared to the previous period.

Compared to previous years, the terminal demand for autumn and winter orders was relatively weak, with small and scattered orders being the main focus, and prices being significantly suppressed. The operating load of the weaving factory had slightly decreased; Downstream polyester maintained high production capacity, and its sustainability remained to be seen.

On the supply side, the operating rate of domestic ethylene glycol was still relatively high, while the operating rate of ethylene glycol produced by coal was in a relatively high range. As of the end of July, Xinjiang Tianye and Hubei Sanning were operating under load lifting. One unit in Shenhua Yulin was undergoing maintenance, while other units were significantly under load lifting. Overall, the amount of maintenance losses was relatively limited. The domestic ethylene glycol production capacity was 25.9 million tons per year, and there was a significant increase in domestic goods in the early second quarter. As of the end of July, it was still in the stage of oversupply.

In terms of port inventory, as of July 31, the inventory of ethylene glycol at the East China main port was 987,100 tons, which was a cumulative inventory of 25,800 tons compared to the inventory of 961,300 tons on June 29. Compared to the inventory of 1.2054 million tons at the same period last year on August 1st, there was still a significant drop.

Market outlook

In July, due to the influence of raw material prices, there was strong support for the cost of ethylene glycol; However, the supply and demand fundamentals were still weak, and it is expected that ethylene glycol prices will gradually enter the platform fluctuation zone in August.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.