At the beginning of the month, due to the early plunge, the market sentiment improved, the ethylene glycol market became stronger, the market price rose steadily, and major traders actively inquired, but the mainstream suppliers were more reluctant to ship, and individual traders fell. Drive market prices higher.
In the middle of the month, the ethylene glycol spot fell after a high consolidation due to lack of buying support. Driven by the weak PTA**, the mentality of the MEG market also lost support. In addition, the traders profited from the market, and the intention to ship stocks increased. Traders and factories began to wait and see, due to repeated impacts of 6,500 yuan/ton. , Business confidence has declined, for the price to continue to Jiancang little intention, and the factory to plate weaker intentions.
At the end of the month, the domestic ethylene glycol market was concussed and consolidating. The industry’s mentality was stable and transactions were generally fair. At present, the quoted price and the transaction price of ethylene glycol general spot cans in the East China market are respectively 6500-6550 yuan/ton and 6450-6500 yuan/ton. The cash offer price and the self-quoted transaction price in South China market were RMB 6700-6750/ton and RMB 6700/ton respectively, which was RMB 100/ton higher than the previous period. The outer disk market was firmer and tighter. Cargo shipments were tight. Some of the offshore cargo quoted prices and transaction prices were US$810/tonne and US$805-810/tonne, respectively, which was about US$15/ton higher than the week before.
Analysis of next month, due to the recent sharp fluctuations in crude oil prices, the raw material ethylene market continues to rise due to tight supply reasons, the cost of ethylene glycol support is not obvious. The downstream overall production and sales level was generally low, but purchases were not positive. However, supply of Asian MEG cargo was tight. Affected by multiple units of Formosa Plastics overhauled and repaired by domestic Sinopec Yangzi and Beijing Dongfang, domestic market supply also decreased correspondingly. It is expected that the ethylene glycol market will be dominated by stable adjustments in the short term, and there will be limited room for downward prices.
In the middle of the month, the ethylene glycol spot fell after a high consolidation due to lack of buying support. Driven by the weak PTA**, the mentality of the MEG market also lost support. In addition, the traders profited from the market, and the intention to ship stocks increased. Traders and factories began to wait and see, due to repeated impacts of 6,500 yuan/ton. , Business confidence has declined, for the price to continue to Jiancang little intention, and the factory to plate weaker intentions.
At the end of the month, the domestic ethylene glycol market was concussed and consolidating. The industry’s mentality was stable and transactions were generally fair. At present, the quoted price and the transaction price of ethylene glycol general spot cans in the East China market are respectively 6500-6550 yuan/ton and 6450-6500 yuan/ton. The cash offer price and the self-quoted transaction price in South China market were RMB 6700-6750/ton and RMB 6700/ton respectively, which was RMB 100/ton higher than the previous period. The outer disk market was firmer and tighter. Cargo shipments were tight. Some of the offshore cargo quoted prices and transaction prices were US$810/tonne and US$805-810/tonne, respectively, which was about US$15/ton higher than the week before.
Analysis of next month, due to the recent sharp fluctuations in crude oil prices, the raw material ethylene market continues to rise due to tight supply reasons, the cost of ethylene glycol support is not obvious. The downstream overall production and sales level was generally low, but purchases were not positive. However, supply of Asian MEG cargo was tight. Affected by multiple units of Formosa Plastics overhauled and repaired by domestic Sinopec Yangzi and Beijing Dongfang, domestic market supply also decreased correspondingly. It is expected that the ethylene glycol market will be dominated by stable adjustments in the short term, and there will be limited room for downward prices.