On September 22, the latest price of ethylene glycol of Tianjin Daxing Chemical Trading Co., Ltd. is 5,250 yuan/ton including tax for the whole vehicle shipped out of Zhijiang Anyang, and 5,550 yuan for small orders. / ton, the ethylene glycol qualified product content is 98%, and the vehicle tax is 3,300 yuan / ton. Jilin Petrochemical’s ethylene glycol price is stable, currently priced at 5,450 yuan/ton locally, 5,120 yuan/ton for customers in North China, and 5,000 yuan/ton for customers in East China. The price of 60,000 tons/year ethylene glycol of Fushun Petrochemical Company of PetroChina Branch is stable. Currently, the local price is 5,450 yuan/ton, the price for customers in North China is 5,120 yuan/ton, and the price for customers in East China is 5,000 yuan/ton. Maoming Petrochemical’s ethylene glycol unit is currently operating at normal load, and the manufacturer’s quotation today is stable, with the current local price of 5,350 yuan/ton.
Crude oil futures prices rose on Wednesday as U.S. inventory data showed domestic crude inventories were at their lowest levels since February and the dollar weakened. NYMEX October crude oil futures closed up $1.29, or 2.9%, at $45.34 a barrel. ICE Brent crude futures settled up 95 cents, or 2.1%, at $46.83 a barrel. International crude oil closed slightly higher, but the impact on ethylene glycol was not obvious. The recent adjustment state of ethylene glycol is still continuing. There is an obvious stalemate between the long and short forces on the market. There is a lack of enthusiasm for market operations in the narrow range of fluctuations. The market center of gravity has been frustrated. Although the electronic market opened high and fluctuated, it then dived downwards. In the afternoon, the bears made efforts. The market atmosphere for shipments from some large households is under pressure.
At present, the market is still in the stage of shock adjustment. The overall market pattern has not changed. The downstream demand remains stable but the terminal weaving performance is average. Although the supply side has increased during the holidays, port inventory has increased. However, with the recent speculation about several sets of MEG installations in the Middle East, the overall tight supply is still expected, and the market adjustment range is limited. In the short term, after the shock adjustment, we will pay attention to the related positive start of the market in the second half of the year.
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