Weak supply and demand, glycol market downturn (12.2-12.6)

I. price trend

According to the data of business agency, the average ex factory listing price of oil-based glycol in North China on December 6 was 4833 yuan / ton, up 0.69% from last week.


At the beginning of this week, the price of large-scale single can of ethylene glycol in East China was 4680 yuan / ton. After a week’s consolidation, the price was 4710 yuan / ton by Friday, slightly rising.


II. Analysis of influencing factors


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As of yesterday, the total operating rate of domestic glycol was 59.85%, including non coal load of 58.96% and coal production load of 61.1%, with a steady decline.


Downstream polyester production and sales performance slightly contracted, some polyester factories successively issued maintenance plans, and overall demand gradually weakened.


As of Thursday, the main port of East China’s glycol port inventory was about 364400 tons, an increase of 25700 tons from Monday, an increase of 5.53%. Among them, Zhangjiagang has an inventory of 172400 tons, Taicang has an inventory of 45000 tons. This week, the average daily delivery of glycol in Zhangjiagang is 10700 tons, while that in Taicang is 35000 tons.


III. future forecast


According to glycol analysts of business agency, due to the early Yangtze River Closure and other reasons, glycol was delayed to arrive in Hong Kong. Due to the poor delivery situation after arrival this week, the accumulated storage of terminal glycol has become a reality. At present, the factory starts stably, while the downstream purchase intention is low, and it is expected that the price of glycol will continue to be consolidated in the near future.


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