Domestic Ethylene Oxide Price Dynamics Insufficient Waiting for Stability

This week, the domestic price of ethylene oxide remained stable, and the export price of enterprises in Northeast China increased by a narrow margin, bringing a partial boost to the market mentality. On the cost side, Asia's ethylene market was tidied up narrowly this week. The return of Qingming Holiday, affected by the downstream Styrene Market rebound, ethylene spot demand has increased. The Asian ethylene market closed up narrowly on Monday, supported by tight supply due to overhaul of cracking units in Korea. However, as the downstream PE market is still weak and stocks are high, and the Ethylene Glycol market continues to oscillate at a low level, the pressure on the demand side of Asian ethylene market is still more obvious. The seller holds the goods waiting to rise, the buyer waits and waits and falls, and the on-site delivery is deadlocked. CFR prices in Northeast Asia fell slightly again on Wednesday. Based on the 10-day CFR Northeast Asia Ethylene Price and Ethylene oxide ex-factory price in East China, the domestic Ethylene oxide profit is estimated at 268 yuan per ton.

Affected by the explosion of LPG in Taihua during the Qingming Holiday, the domestic ethylene glycol market opened on Monday. Affected by PTA futures, the market rose quickly and then fell back. After that, the market fell into a narrow range reorganization again. On Thursday, the multi-empty stalemate was broken and the focus of market negotiations was once again lowered under the influence of news of continued increase in stocks in the main port. As the subsequent arrival pressure is still on the high side, the main port inventory trend is still difficult to achieve in the short term, and the related products have been pulled back, it is expected that next week the market of ethylene glycol will continue to explore the bottom more likely. In terms of polycarboxylic acid superplasticizer monomers, the market was selling at a low price during the week, and the focus of the negotiations was narrow and upward. Ethylene oxide local exploration has brought support to the monomer market. With the downstream consumption, the inventory of some polycarboxylate superplasticizer monomer factories has decreased significantly in recent years, especially in the Northeast region, the previous partial low prices have disappeared significantly, and the mainstream negotiation prices have increased significantly. In the latter stage, with the cost support of the monomer market, the overall volume may be further enlarged, coupled with the recovery of downstream demand, water reducer plant start-up rate steadily increased. Jin Lianchang expects the monomer market to remain stable next week, with low prices or continuation. Overall, the trend of Asian ethylene market is still unclear and the overall trading is still deadlocked. The domestic ethylene glycol market is still weak, and there is still no support for ethylene oxide. At present, the surface of ethylene oxide plant is still supported. Monomer market is still acceptable, but other downstream performance is still weak. After this week's rise in Northeast China, the market mentality has improved, but the momentum for the rise is slightly inadequate, which still needs the cooperation of the demand side. Jin Lianchang predicts that the market of ethylene oxide will remain on the sidelines next week, not excluding the possibility of regional adjustment, but focusing on changes in costs and demand.