Ethylene glycol daily review (20220120)

The latest p-value price of ethylene glycol on January 20 is 5325 yuan / ton.



In terms of inventory, as of January 17, the total inventory of ethylene glycol in the main ports of East China was 663600 tons, a decrease of 39400 tons, a decrease of 5.60%, and 45200 tons, a decrease of 6.38%, compared with last Thursday.


On January 19, the spot price of ethylene glycol in East China market was 5305 yuan / ton, up 112.5 yuan / ton compared with the previous trading day and 138.67 yuan / ton compared with last week.


The crude oil is in strong operation, and the superimposed ethylene glycol is in good condition to go to the warehouse. In the afternoon, the price center of MEG outer plate rises slightly, and the recent ship offer is around 710 US dollars / ton. However, due to the approaching Spring Festival, the demand side performance is flat, coupled with the restart of a 300000 t / a syngas MEG unit in Shaanxi, the two 500000 t MEG units in Fujian and Ningbo are expected to restart this weekend, and the supply is expected to increase, limiting the upward space.


Forecast: shock consolidation.

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