Ethylene glycol: Port inventories have decreased, ethylene glycol has mixed trends during the period

On May 29th, the market price index of ethylene glycol was 4029.29, down 20.67 from the previous working day.

Market focus:

1. The market is still confident that the United States will reach the debt ceiling negotiations, and the summer travel peak in the United States is about to begin, and international oil prices are rising. Ice crude oil futures 07 rose by US $0.84 per barrel or 1.17% by NYMEX crude oil futures 07 or US $0.69 per barrel or 0.90 per cent by 76.95.

2. Shaanxi Weihe Binzhou Chemical Industry 300000 ton syngas MEG plant was stopped for maintenance and replacement of catalyst on May 15th. at present, the unit has been overhauled and restarted and the load is basically normal.

3. Zhejiang Sinopec No. 3 plant is shut down first, and the recovery time is to be determined.

Futures trends:

On May 29th, 2023, the EG main contract 2309 opening price: 4043, the highest price: 4108, the lowest price: 4034, the settlement price: 4070, the closing price: 4063, the position: 475797.

Spot market: today, the price trend of ethylene glycol market is divided, the price of ethylene glycol in China has fallen, the price of port region has been raised, and the upward price of crude oil has given some support to the market. coupled with the narrow removal of port inventory, some operators' mentality has improved. In the morning, the center of gravity of MEG inner disk is vibrating and firm, and the market talks are general. At present, the spot base difference is near the 09 contract discount of 75-80 yuan / ton, the negotiation is 4020-4025 yuan / ton, and part of the transaction is 3990-4015 yuan / ton. In the afternoon, the center of gravity of MEG inner disk was arranged in a narrow range, and the market negotiations were light. At present, the spot basis is near the 09 contract discount of 75-80 yuan / ton, and the negotiation is around 3990-3995 yuan / ton. As of press time, the quotation in South China was around 4200 yuan / ton, maintaining yesterday, while the price in East China was around 4000 yuan / ton, an increase of 43 yuan / ton compared with the previous working day.

List of market prices on the outer disk:

List of mainstream market prices:

Enterprise price list:

Unit: yuan / ton

Future forecast:

The market is still confident that the United States will reach the debt ceiling negotiations, and the summer travel peak in the United States is about to begin, international oil prices are rising, cost support is better, futures market volatility is moving up, and the mentality of some operators in the market has improved. coupled with the lack of port arrivals and the support of downstream rigid demand, port inventories have decreased. Demand: with the decline of polyester raw materials, the overall production cost pressure of polyester enterprises is reduced, while the overall decline of polyester market is small, and the profits of some enterprises are gradually repaired upward, but the demand for terminal weaving will enter the off-season of demand. the overall recovery of demand is limited. Overall, it is expected that the short-term ethylene glycol market price is weak and volatile, in the later stage, we need to pay close attention to the crude oil, coal prices and the operation of the plant.