The ethylene glycol market will remain volatile at a low level

The domestic ethylene glycol market fluctuated upward, but the buying sentiment was not high, the negotiation atmosphere was weak, the high point of the week was 3955 CNY/ton, the low point was 3920 CNY/ton, and the average weekly price was 3938 CNY/ton, up 115 CNY/ton from last week.

International crude oil high volatility, while coal prices are high, ethylene glycol cost support still exists, and the current industry profit loss is serious, it is expected that the overall start of the plant in the short term is difficult to increase significantly, the port delivery situation is acceptable during the week, the inventory is narrow to dematerialize, as of Monday, East China main port inventory at 823,700 tons, down 14,300 tons month-on-month, port destocking boosted market sentiment, the center of gravity of trading moved up, but downstream demand continued to be sluggish, in the weak economic environment, terminal orders lack of increment, while the epidemic in some areas is still particularly serious, logistics and transportation restrictions, shipment difficulties, polyester factories continue to reduce production, the overall start of work fell to around 77%, demand side dragged down market sentiment.

On the whole, , inhibiting the market upward sentiment, although domestic production shrinks significantly under high cost pressure, there is still a demand gap, supply and demand contradictions are still sharp, comprehensively, it is expected that the ethylene glycol market will maintain a low level of shock operation in the short term.