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Ethylene glycol: high inventory and weak demand, weak market rebound

Views: 0     Author: Site Editor     Publish Time: 2022-06-01      Origin: Site

In May, the ethylene glycol market was depressed, and there were relatively many unit overhauls during the month. The ethylene glycol units of Inner Mongolia Yigao, Qianxi coal chemical and Shenhua Yulin were overhauled. In addition, some units were also reduced in load. At present, the overall domestic operation is around 52%. The port shipment volume in the month was flat, and the inventory maintained an accumulation trend. As of May 26, the inventory of the main port in East China was 1184500 tons, an increase of about 50000 tons compared with the end of April, However, due to the relatively large amount of arrivals in the later stage, it is difficult for the inventory to be significantly removed in the short term. On the demand side, due to the inflation at the raw material side, the prices of polyester and staple fiber have increased significantly, but the profits are still suffering serious losses. At present, there is a lack of orders at the terminal, the capital is under pressure, the ability to accept high priced raw materials is limited, and the demand continues to be depressed. Although the overall start-up of the polyester plant has rebounded, under the circumstances of poor production and sales and serious losses, the start-up in the short term is difficult to rebound significantly, and the recovery at the demand side is slow.

On the whole, although the start-up of domestic units is relatively low, the inventory remains high, which still puts some pressure on the market. In the long run, the release of new capacity will also put pressure on the market. However, the domestic epidemic situation is gradually improving, the closure of Shanghai is about to be lifted, and the market sentiment is good. There is some room for rebound. We will continue to pay attention to the resumption of work in various regions and the changes in port inventory.



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