At present, the domestic ethylene glycol market is undergoing shock and consolidation.
At present, the electronic trading is weak and downward. The main contract of West China electronic trading, MEG1703, opened at 8056 yuan in the morning, with the highest price of 8082 yuan and the lowest price of 7832 yuan. It currently closed at 7850 yuan. It fell by 196 yuan, or 2.44%, from the previous trading day, and the number of transactions was 45,550. Electronic trading fluctuated and declined at the opening, and continued to dive in the afternoon opening, and the market was sluggish.
As of January 17, the current spot price is 8030-8040 yuan/ton, and negotiations are on 8020-8030 yuan/ton. In the afternoon, a few orders were sold at 8020-8050 yuan/ton. The mainstream quotation for cargo is 938-940 US dollars/ton, and the negotiation price is 935-938 US dollars/ton. The cargo arriving at the port is kept at around 935 US dollars/ton.
As the Spring Festival approaches, downstream polyester factories have intentions of maintenance or production reduction. The polyester load will fall back in the later period. It is expected that the domestic ethylene glycol spot market will continue to consolidate at a high level in the near future. Lord.
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