According to data from the Business News bulk list, the domestic ethylene glycol market price consolidated weakly last week. At the beginning of last week, the average price quoted by domestic ethylene glycol dealers was 5,120 yuan/ton. Last weekend The domestic ethylene glycol market distribution price is 5,100 yuan/ton, a decrease of 0.39% last week, and a year-on-year price decrease of 16.85%.
Product: The domestic ethylene glycol market continued to be weak last week. The trading atmosphere on the market was sluggish, with fewer bids, lack of buying momentum, and weakened market shipments. The performance of the ethylene glycol market in East China was light, with mainstream offers at around 5,000-5,080 yuan/ton, and market sales were mediocre; in South China, the market price of ethylene glycol fell slightly, with the mainstream transaction price in the market at around 5,100-5,180 yuan/ton; in North China The regional ethylene glycol market is generally stable, with traders’ bid prices concentrated at around 5,080 yuan/ton.
Industry chain: The overall performance of the crude oil market last week was weak and downward. Crude oil futures prices stabilized on Thursday (August 11). Previously, the International Energy Agency (IEA) predicted that in consecutive days After 2018’s overproduction, the crude oil market will return to rebalancing in the coming months. Brent crude oil futures rose 10 cents to US$44.15 per barrel, which had a certain suppressive effect on the commodity market. The external price of ethylene glycol suffered successive setbacks, and the domestic ethylene glycol spot market was unable to rebound. Most downstream manufacturers focused on purchasing for rigid needs. , stocking is not active; some downstream polyester manufacturers have begun to carry out equipment maintenance, and the average operating rate of the overall domestic polyester equipment has reached 68%. The overall production and sales of polyester have been average, and the demand for ethylene glycol raw materials has been mediocre. In the short term, domestic ethylene glycol It is difficult for the market to rebound.
Industry: The domestic ethylene glycol market is weak, with sufficient inventory at major domestic ports and relatively slow shipments. The current downstream market demand is weakening, and traders’ bidding sentiment is not high. The market Overall trading volume is limited. Demand in the downstream market has weakened, and domestic ethylene glycol traders have adopted a wait-and-see mentality and expressed lack of confidence in the short-term market conditions of ethylene glycol.
Analysts of ethylene glycol in the business club believe that the crude oil market is operating, the domestic downstream polyester manufacturer’s installation load is low, the downstream purchase demand is weakened, and the di two-glycol traders have insufficient confidence in confidence , it is expected that the ethylene glycol market price will continue to adjust weakly in the short term.
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