Ethylene glycol price can still be strong upward

In early May, crude oil hit, oil prices fell all the way down, as of May 4 closing WTI to 45.52 US dollars / barrel, Brent to 48.38 US dollars / barrel, a single day decline of nearly 5%. May the first week of the domestic black futures led the decline in bulk chemical futures fell, the commodity market sentiment worsened. In the environment and international energy are released under the guidance of bad, ethylene glycol thriving, out of the first week of May exclusive eye-catching market.

From the beginning of the disk in early May, electronic futures futures in the low shocks, the decline has been more obvious from March to April contraction, and from the MACD K line analysis, the end of April to early May has been negative by the positive Value, the market bulls in the recovery increased, shortening significantly reduced contraction. But this only represents the market trend in early May.

According to industry information revealed that the second quarter of 2017, a chemical fiber enterprises in Zhejiang completed the merger of the two factories merged, involving polyester upstream and downstream industries, in order to speed up the acquisition of Zhejiang chemical downstream of the start of the progress, in early May on the ethylene glycol raw materials Carried out sweep goods procurement, the market a lot of buying to boost the long atmosphere, which is good news in early May ethylene glycol. In addition, according to market sources, in early May ethylene glycol futures market again to discuss the futures market news once again boost the market fermentation, which is good news in early May ethylene glycol two. Comprehensive news side of the positive boost, in early May ethylene glycol in the bulk of the situation, still able to maintain a strong upward trend is imperative. However, the positive news of the message may only maintain a relatively short period of boost, in the domestic bulk Pudie and the impact of the international energy crash in the upper reaches of the chemical futures market in May weak tone, ethylene glycol market fear of drought.

Long line to see, ethylene glycol still need to focus on bulk, fundamental news. Oil prices fell badly bullish market, but the current high price of ethylene in ethylene, ethylene ethylene glycol has been facing the highest loss during the year, from the cost point of view, ethylene glycol continued to fall the space is limited, rebound repair obvious. May there is still a large factory in accordance with the planned maintenance, supply on the existence of tight expectations, good late ethylene glycol trend. Comprehensive view, oil prices, bulk, supply performance long and short game, ethylene glycol rebound opportunity, but the trend of reversal is poor, especially in early May of the strong rebound, may be in the bulk of the pressure in the late to take. Analysis of the current rational control of the proposed position, in a large bearish situation short time catch up.