July Ethylene Glycol Prices Strong, Slight Decline at Month-End in China

July 31st, according to reports

July Ethylene Glycol Prices Strong, Slight Decline at End of Month

In July, the price of ethylene glycol first rose and then fell, showing an inverted "V" trend. In the early stage, influenced by the anti-internal competition sentiment, the prices of major commodities showed an upward trend, which also drove the steady increase in the price of ethylene glycol. From a fundamental perspective, in mid-July, news circulated in the market that Zhejiang Petrochemical's EG production reduction, Shenghong's CDU issues, unplanned maintenance at Shell Singapore, delayed shipments from Saudi Arabia, and Satellite's plans to start PE but not EG in August, along with another cracker shutdown at Satellite in August, all created a relatively positive supply outlook for ethylene glycol. Coupled with low port inventory levels and a significant rebound in coal prices, these factors collectively led to a noticeable rise in the price of ethylene glycol.