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SunSirs: Ethylene Glycol Price Bottom Support Strengthened

November 25 2022 13:32:50     SunSirfs (John)

Price trend

According to the data of SunSirs, the average price of domestic ethylene glycol made from oil was 3,983.33 RMB/ton on November 24, up 0.63% from the previous trading day. In terms of futures, the main contract eg2301 closed at 3,933 RMB/ton on November 24, up 3.15% daily.

Analysis review

On November 24, the spot price of ethylene glycol in East China market was weak and stable, and the external quotation of mainstream manufacturers in East China was basically stable, with the spot price of 3,850 RMB/ton; At the trade flow end, the spot negotiation price in Zhangjiagang market rose slightly compared with that on the 23rd, with a range of 50 RMB/ton. The spot negotiation price in the week of the 24th was around 3,850 RMB/ton, and the forward spot contract was about 3,875 RMB/ton in December. The MEG shipment volume of the two mainstream reservoirs in Taicang was about 3,200 tons, a year-on-year decrease of 28.89% and a month on month increase of 3.23%.

On November 24, the external quotation of the mainstream ethylene glycol manufacturers in the South China market was basically flat, with the spot price of 4,000 RMB/ton, and the downstream purchased just on demand mainly.

The recent market trend was good, mainly based on the following factors:

  1. On the news side of unplanned maintenance, the unplanned maintenance of ethylene glycol increased due to the large loss of domestic production profits. At present, the overall operating rate remains at a low level, while overseas operations are also low under the influence of poor efficiency.
  2. The price of ethylene glycol dropped to a low level. At present, the price of ethylene glycol is relatively low, and the cost support is strengthened.

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

 

 

 

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