Ethylene glycol has adjusted at a high level, but there is limited room for correction due to limited support from spot stocks. The market opened higher today and fluctuated upwards. The intraday electronic market pulled up, and the center of gravity of futures and spot prices has clearly strengthened. . As of December 22, ethylene glycol spot prices were concentrated at around 7,400-7,500 yuan/ton, and CFR China was quoted at 840 US dollars/ton, an increase of 1.20%. The spot price of ethylene glycol in East China is concentrated at 7450-7480 yuan/ton, and in South China it is 7550-7600 yuan/ton. As the Spring Festival approaches, the operating load of downstream companies will drop significantly, and demand support cannot be sustained. In addition, the arrival of goods in the main ports in East China this week is relatively concentrated, and the supply of circulating goods in the spot market will become increasingly loose. It is expected that the domestic ethylene glycol spot market conditions may remain high in the short term.
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