At the closing price on February 14, East China fell to 7,300-7,500 yuan/ton, and South China fell to 8,300-8,600 yuan/ton. Yesterday, the ethylene glycol market fluctuated within a narrow range. Electronic trading opened higher and moved lower, with the focus of transactions picking up slightly compared with the previous period.
On February 14, the center of gravity of the U.S. dollar price of diethylene glycol continued to shift downward. Recently, there have been few offers for cargo, with bids around 820, intentions to negotiate at 820-830, and few transactions heard.
On February 15, Henan Coal Industry Group’s quotation for high-grade coal-based ethylene glycol products stabilized at 7,800 yuan/ton, mainly supplying downstream polyester contracts. Xinjiang Dushanzi Petrochemical’s ethylene glycol unit is in stable operation, and the spot quotation is stable. It is currently priced at 8,600 yuan/ton. Its products are mostly supplied to surrounding areas. Maoming Petrochemical’s ethylene glycol unit is currently operating at normal load, and the quotation is stable. The current spot price is 8,000 yuan/ton locally. The Beijing Branch of Sinopec Marketing Company has stabilized its quotation for ethylene glycol. Yanshan Petrochemical and Tianjin Petrochemical have basically no external sales of ethylene glycol. They mainly supply Tianjin chemical fiber to each other. The current spot price of ethylene glycol is reported at 8,200 yuan/ton.
At present, Shandong Hualu Hengsheng’s ethylene glycol quotation is 7,500 yuan/ton, mainly for downstream direct sales. The current 50,000-ton ethylene glycol unit is in normal operation. The construction of a new 500,000-ton ethylene glycol plant is in full swing. The diethylene glycol market in South China has been consolidating within a narrow range. Middlemen and factories are not very enthusiastic about entering the market. Sporadic discussions are around 7,000-7,050 yuan/ton. The diethylene glycol market in East China is weakening, and the market mentality is cautious. The selling quotation reference is around 6800-6900 yuan/ton. The market buying is not active. Downstream factories are still waiting to see the high price of raw materials, and trading is deadlocked.
Recently, domestic ethylene glycol buyers have placed inward bids, and the overall domestic market has insufficient buying momentum. In addition, domestic factories have average inquiry intentions, and downstream factories are still recovering slowly. , trading enthusiasm slowed down.
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