Trading in the ethylene glycol market is weak, with the market fluctuating within a narrow range and falling slightly. There is a strong short-selling atmosphere in the market, and bulls have basically withdrawn from the market. The main contract of West China Electronic Trading, MEG1704, opened at 7,350 yuan in the morning, with a maximum price of 7,370 yuan and a minimum price of 7,262 yuan. It currently closed at 7,350 yuan, down 124 yuan from the previous trading day, a range of 1.66%, and the number of transactions was 61,688. Today, the spot price at East China ports is as high as 7,340 yuan/ton and as low as 7,270 yuan/ton. The center of gravity of the ethylene glycol market is low, with large spot orders in East China quoted at 7,280-7,290 yuan/ton, large futures orders quoted at 7,300 yuan/ton, and spot market prices in South China have dropped to around 7,700 yuan/ton. There is bad news in the market, and the domestic ethylene glycol spot market is expected to consolidate weakly tomorrow.
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