In mid to early May, the price of ethylene glycol was relatively weak
This week, the price of ethylene glycol has stabilized from a previous decline and turned to recover. According to data from Business Society, as of May 24th, the average price of domestic oil to ethylene glycol was 4513.33 yuan/ton, which is 1.73% higher than the average price of 4436.67 yuan/ton in the East China market on May 17th. The prices for each region are as follows:
The price range for spot goods executed by mainstream manufacturers in East China is 4450-4600 yuan/ton; The spot price of ethylene glycol in the South China market is 4450 yuan/ton, while the mainstream manufacturers in Central China have a spot price range of 4250 yuan/ton for external execution; The mainstream manufacturers in North China offer spot prices of 4400-4500 yuan/ton for external transactions.
Fundamental logic of ethylene glycol price operation in May
In early May, there was news of the resumption of overseas equipment trading in the market, with abundant expectations for overseas import growth. Coupled with a downward shift in downstream polyester production rates, demand expectations weakened, and market sentiment was low.
At present, the price of ethylene glycol has started to stabilize, mainly due to changes in the news. There have been production cuts and supply contraction in the overseas Middle East and North America, and the forecast for arrival at the port has decreased, breaking the previous expectation of import increment; In addition, the domestic ethylene plant maintains a low operating rate, and the production of synthetic gas continues to decline, bringing certain benefits to the domestic supply side. This week, driven by market sentiment in the polyester sector, the price of ethylene glycol has slightly increased.
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