Last week, the price of domestic ethylene glycol market fluctuated and dropped slightly. The overall price of ethylene glycol fell by 0.91% last week, up 65.88% year-on-year.
Product: The domestic ethylene glycol market was mainly consolidated last week, with the overall trend showing a slight upward trend. The ethylene glycol market fluctuated between 20-100 yuan/ton during the week. The performance of electronic trading last week was acceptable. As of the weekend, ethylene glycol electronic trading closed slightly higher during the week. At present, the focus of the ethylene glycol market in East China is strong. As of the weekend, the spot offer for large orders is 7820 yuan/ton, and the offer price is 7780-7800 yuan/ton. Large futures orders are rarely heard of; traders in South China quoted 7900-8000 yuan/ton. Yuan/ton short-distance delivery, actual order transaction was around 7,800 yuan/ton. As the Spring Festival approaches, the spot trading atmosphere gradually fades, and some traders leave the market to wait and see. There is little enthusiasm for funds entering the market, and the quotations are high and firm. As of the weekend, the mainstream transaction price was around 7770-7800 yuan/ton.
Industrial chain: International oil prices overall showed a rebound trend after falling last week. After entering mid-to-late December, due to the serious differentiation of long and short positions in crude oil futures and the lack of liquidity in speculative positions, the upward trend of oil prices was weak, laying hidden dangers for the short-term adjustment of crude oil. Iraq’s unexpected disruption disrupted military morale, and short sellers took the opportunity to put pressure on oil prices, which fell sharply for two consecutive days in mid-week. As the Chinese New Year approaches, ethylene demand may gradually slow down. Coupled with the recent arrival of some ocean-going cargo, the supply of goods in the ethylene market has increased. On January 12, the ethylene market price in Asia was temporarily stable. The closing price of CFR Northeast Asia remained unchanged, closing at 1109-1111 US dollars/ton, and the closing price of CFR Southeast Asia remained unchanged. , closing at 984-986 US dollars / ton.
Industry: The domestic ethylene glycol market fluctuated last week and the inventory in the main port area of East China has declined. The supply of circulating goods in the spot market will become increasingly loose. The Lunar New Year in January is approaching, and the downstream polyester industry’s start-up will gradually decrease. Some polyester companies have insufficient replenishment intentions, and the demand side is facing greater pressure, while the supply side continues to be tight due to the suspension of production and maintenance of some units in the Middle East and Asia. The ethylene glycol market is consolidating at a high level.
Ethylene glycol analysts believe: From the current point of view, the factors supporting the upward trend of ethylene glycol in the early stage have slowed down, and the pre-holiday stocking market in some industries has come to an end. There will also be varying degrees of decline in recent construction starts, and it is expected that the ethylene glycol market price will remain weak in the short term.
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