The latest p-value price of ethylene glycol on May 24 was 5000 yuan / ton, unchanged from the previous trading day. Up 0.40% year-on-year.
The oil price fluctuated in a narrow range under the long short game in the crude oil market due to the possible economic recession and domestic restrictions on the epidemic, as well as the expectation of tight global supply and the recovery of fuel demand in the US summer driving season. It fell by nearly US $1 on Tuesday. Today, Meg’s external market is lower, buyers are mainly on the sidelines, and the recent negotiated price of shipping is around us $600 / ton. Ethylene glycol goes to the warehouse slowly, the inventory level is high, the port shipment volume decreases, and the demand continues to be depressed. Recently, the polyester operating rate has remained around 80%, mainly contract goods, the market wait-and-see atmosphere continues, and the terminal preparation is cautious.
Forecast: in the short term, the market has great upward resistance and low volatility.
| PVA |