The Chinese ethylene glycol market moved upwards this week. The firm crude oil prices stimulated chemicals’ markets. As for the fundamentals, the inventory at ports in East China declined to a low level as the delivery time was delayed on the typhoon. Moreover, the maintenance in Fujian Refining & Petrochemical also supported the market. The mainstream negotiation prices were around RMB 7,450/mt this week. But the demand from the polyester market may decline in the coming days, which restricts the ethylene glycol market. The average price of ethylene gycol was RMB 7,406/mt, which increased 4.77% from last week.
The 225kt/a unit at Sinopec Shanghai Company will undergo maintenance next week. But the inventory at ports will continue to be low first and then increase slightly at the end of next week. It is predicted that the ethylene glycol market will show a up-to-down trend next week.
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