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English
Views: 0 Author: Site Editor Publish Time: 2022-12-16 Origin: Site
1. Summary of current market situation 2
1.1 Foreign market 2
2. Forecast of diethylene glycol market trend in the next period 3
3. Diethylene glycol chart and detailed data 3
3.1 Inventory data 4
3.2 Device maintenance table 5
3.3 List of ex-factory price changes of domestic mainstream suppliers 6
3.4 UPR Operating rate and DEG Demand Equivalent Change Table 6
4. Interpretation of hot news in this issue 7
4.1 Wanhua Chemical proposed 176 100 million yuan to implement the second phase of ethylene project 8
4.2 Jiangsu Honggang Petrochemical 240 tons PTA The third phase of the project started smoothly9
1. Summary of current market situation
1.1 foreign market
Figure 1 Diethylene glycol market trend chart in Europe from 2018 to 2022
Delayed update of external disk | December 2 _ _ | December 9 _ _ | ups and downs | unit |
FCA North West Europe | 745 | 730 | -15 | Euro/ton |
1.2 Domestic market
diethylene glycol | December 8 _ _ | December 15 _ _ | ups and downs | unit |
East China Market | 5900 | 5540 | -20 | Yuan / ton |
South China Market | 6000 | 5800 | -200 | Yuan / ton |
This Tuesday, the glycol market fluctuated and went down, with a weekly high of 5,880 yuan/ton, a low of 5,540 yuan/ton, and a weekly average price of 5,680 yuan
Yuan/ton, down 320 yuan/ton from last week. Last weekend, the shipments were concentrated in the port, and the inventory increased significantly. At the same time, the international crude oil continued to fall , the pressure on the accumulated storage and the cost support weakened. The diethylene glycol market fluctuated and went down . There are few cargoes arriving at the port, and the inventory has dropped. As of Thursday, the inventory in the two warehouses was 24,950 tons. demand side, Although the recent domestic epidemic prevention and control policies have been relaxed, the performance of the demand side is not good. The main downstream unsaturated resin factories continue to operate at a low level. At the end of the year, the factories will gradually go on holiday, and they will maintain just-needed purchases. It is difficult to have too much support on the demand side. On the whole, the pressure on the supply side of diethylene glycol has increased, while the width of crude oil has fluctuated, the support on the cost side is limited, and the market lacks solid positive support. It is expected to maintain in the short term.Weak and volatile, we will continue to pay attention to changes in port inventory in the later period.
2. Forecast of the next diethylene glycol market trend
driving factors | next forecast | driving direction |
upstream | The fundamentals of supply and demand are expected to be positive, but the policy outlook given by the Federal Reserve is hawkish , and risk aversion will regain the upper hand in the short term. Zhongyu Information Crude Oil Research Group believes that the price of crude oil futures in the next cycle may turn down again , U.S. crude oil WTI may retest the support near $70-72/barrel, and the WTI-Brent spread is expected to record a clear Significant expansion. | Bad news |
in stock | In the later stage, there will not be many cargoes arriving at the port, and it is expected that the inventory will be reduced in a narrow range. | good |
downstream | Although the recent domestic epidemic prevention and control policies have been relaxed, the performance of the demand side is not good. The start-up of the main downstream unsaturated resin factories continues to be low. Procurement is required, and it is difficult to have too much support on the demand side. | Bad news |
comprehensive judgment | On the whole, the pressure on the supply side of diethylene glycol has increased, while the width of crude oil has fluctuated, and the support on the cost side is limited. The market lacks solid positive support, and it is expected to remain weak and volatile in the short term. In the later stage, we will continue to pay attention to the changes in port inventory. | |
3. Diethylene glycol chart and detailed data
3.1inventory data
Figure 3 Comparison of East China Main Port Inventory
East China main port | time | same time last year | This period |
Diethylene glycol (10,000 tons) | December 8 _ _ | 2.46 | 2.04 |
December 15 _ _ | 3.16 | 2.495 | |
YoY/QoQ | -0.665 | 0.455 |
According to incomplete statistics, as of December 15 , the port inventory of diethylene glycol in East China was 24,950 tons, an increase of 4,550 tons .
Main port shipment data
Figure 4 Shipment volume trend chart of diethylene glycol main ports in East China
This week, the average daily vehicle pick-up and delivery at the main port of Jiangsu was about 1,769 tons per day, a significant increase from the previous period.
3.2 Device maintenance list
area | device | Capacity (10,000 tons) | Start of work |
East China | Yangtze-BASF | 3 | normal |
Yangzi Petrochemical | 1.8 | normal | |
Shanghai Petrochemical | 4.5 | 6.18 parking plan 9.28 restart | |
Zhenhai Refining & Chemical | 4.25 | normal | |
Ningbo Fund Energy | 4 | normal | |
Far Eastern United Petrochemical | 4 | 9.1 Parking and maintenance | |
Sanjiang Chemical | 3 | stop, restart pending | |
Zhejiang Petrochemical | 7 | The second phase is shut down, and the restart is to be determined | |
Satellite petrochemical | 15 | 7.18 One line converted to PE | |
South China | Maoming Petrochemical | 2.05 | 12.1 Restart |
CSPC | 3.2 | restart operation | |
Fujian United | 3 | normal operation | |
Sinochem Quanzhou | 4 | normal operation | |
Zhongke Refining & Chemical | 4 | Lower the burden | |
North China | Tianjin Petrochemical | 0.4 | restart pending |
Zhongsha Tianjin | 4 | parking |
Yanshan Petrochemical | 0.7 | restart pending | |
northeast | Jilin Petrochemical | 1.6 | normal |
Fushun Petrochemical | 0.4 | normal | |
Liaoyang Petrochemical | 2 | parking | |
Northern Liaoning | 1.65 | normal | |
Hengli Petrochemical | 15 | normal | |
Central China | Wuhan Petrochemical | 5.4 | 12.1 Nearby Parking |
southwest | Sichuan Petrochemical | 5 | normal |
northwest | Dushanzi Petrochemical | 0.6 | Parking, restart pending |
total | National production capacity | 1.0655 million tons | |
3.3 List of ex-factory price changes of domestic mainstream suppliers
product | Company Name Manufacturer | factory price | factory price | Quote change |
December 8 _ _ | December 15 _ _ | |||
diethylene glycol | Sinopec East China Company | 6050 | 5800 | -250 |
Sinopec North China Company | -- | -- | -- | |
Sinopec South China Company | 5800 | 5800 | 0 | |
Sinopec Central China Company | 6000 | 5850 | -150 | |
PetroChina Northeast Company | 4900 | 4900 | 0 | |
PetroChina Northwest Company | No quotation | No quotation | -- |
3.4 UPR operating rate and DEG demand equivalent change table
time | Resin operating rate% | for DEG is 10,000 tons/month |
December 15 , 2022 _ _ | 25% | 2.06 |
Figure 5 Changes in demand for diethylene glycol equivalent in downstream UPR
4. Interpretation of hot news in this issue
4.1 Wanhua Chemical plans to implement the second phase of ethylene project with 17.6 billion yuan
On the evening of December 13 , Wanhua Chemical announced that it plans to implement the second phase of ethylene project in Yantai Industrial Park, building a 1.2 million tons.
Annual ethylene and downstream high-end polyolefin projects, with a planned investment of 17.6 billion yuan. Project construction funds are raised in the form of a combination of self-owned funds and bank loans .
According to the announcement, Wanhua Chemical plans to build a 1.2 million tons/year ethylene and downstream high-end polyolefin project to realize the industrialization of self-developed POE , differentiated special materials and other high-end polyolefin products. The second phase of the ethylene project will choose ethane and naphtha as raw materials, the company's existing PDH integration project and the first phase of ethylene project.
The project plans to cover an area of about 1,215 mu, and mainly construct 1.2 million tons/year ethylene cracking unit, 250,000 tons/year low-density polyethylene (LDPE) unit, 2×200,000 tons/year polyolefin elastomer (POE) unit, 200,000 tons/year butadiene unit, 550,000 tons /year pyrolysis gasoline hydrogenation unit, 400,000 tons/year aromatics extraction unit and supporting auxiliary projects and public facilities. The project has been approved by the Shandong Provincial Development and Reform Commission and is expected to start production in October 2024 .
4.2 Jiangsu Honggang Petrochemical 2.4 million tons of PTA phase III project started successfully
On December 10 , the first prestressed concrete pipe pile of Jiangsu Honggang Petrochemical PTA Phase III project supervised by Luohua Group was hammered into the soil, marking the smooth start of Honggang Petrochemical PAT Phase III project.
The project is located in the petrochemical industry base of Xuwei New District, Lianyungang. The supervision scope of our company includes four bidding sections of the 2.4 million tons/year PTA Phase III project, public works, finished product warehouse and central control room. The estimated investment of the project is 3.93 billion yuan.
After the establishment of the project supervision department, communicate with the construction unit as soon as possible to understand the various needs of the construction unit, implement and improve them, and successfully complete the pre-project contract filing, supervision planning, preparation of professional supervision rules, and preliminary data review of the construction unit , Pile foundation project start-up conditions confirmation and safety technology disclosure and other work, the comprehensive, efficient and professional supervision work has won praise from customers.
In the next step, under the leadership of Niu Hanyu, the company's senior executive and project director, the project supervision department will fully carry forward the corporate philosophy of " resolving problems for the owner and escorting the project", actively carry out supervision work, forge ahead, and overcome difficulties Disaster, Safe, high-quality, and efficient completion of project supervision tasks, comprehensive realization of various construction goals, and new contributions to the rapid development of Luohua Group Corporation.
