On August 28th, the price of ethylene glycol moved down

List of ethylene glycol prices


According to data from Business News Agency, on August 28th, the average price of domestic oil to ethylene glycol was 4060 yuan/ton, a decrease of 1.97% compared to 4141.67 yuan/ton at the beginning of the month. The prices in various regions are as follows:


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The price range for spot goods executed by mainstream manufacturers in East China is 3900-4160 yuan/ton; The spot price of ethylene glycol in the South China market is 4050 yuan/ton, while the mainstream manufacturers in Central China have a spot price range of 3900 yuan/ton for external execution; The spot price for mainstream manufacturers in North China is 4160 yuan/ton.


On August 24th, the CIF price of ethylene glycol in China was 467 US dollars/ton; The CIF Southeast Asia price is $469 per ton.


Ethylene glycol fundamentals


Affected by the reduction in raw material crude oil production in July and the upward trend in domestic coal prices, the cost support for ethylene glycol has strengthened compared to the previous period.


On the demand side: downstream polyester maintains high operating rates, with a polyester operating rate of over 90%; Terminal new orders followed up slightly month on month, but remained at a low level year-on-year.


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From the supply side, the operating rate of domestic ethylene glycol is still high, and some devices have restarted. Shenghong Refining and Chemical’s 1 million ton unit has been lifted to 70-80%, and the Shaanxi Coal Yulin unit has been restored. Currently, it is still in the stage of oversupply.


In terms of port inventory, as of August 28th, the inventory of ethylene glycol at the East China main port was 1.0716 million tons. Recently, there has been a concentration of port arrivals, and there is a phenomenon of accumulated inventory in the data.


Ethylene glycol callback in August


In July, due to the influence of raw material prices, there was strong support for the cost of ethylene glycol; However, the supply and demand fundamentals are still weak, and after the correction of ethylene glycol prices in August, they gradually entered the gaming platform range. At present, the supply and demand of ethylene glycol are both strong, and it is expected to enter a fluctuating range in the short term, with a weak trend at present.