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Ethylene glycol: market consolidation at low levels, recovery is weak

Views: 0     Author: Site Editor     Publish Time: 2022-09-05      Origin: Site

Ethylene glycol: market consolidation at low levels, recovery is weak

The domestic ethylene glycol market shuddered back down this month. The monthly average price dropped 235 yuan/ton.

During the month, international crude oil prices were up and down, as market participants' concern about economic recession was rekindled, the market psychology of sluggish demand prevailed, and external factors such as the strong US dollar and the resumption of Iran nuclear agreement negotiations also joined hands to pressure oil prices, international crude oil prices continued to fall, and the downward pressure on the glycol market increased under the drag of the cost side. As of August 29, the inventory of East China main port was at 1,043,100 tons, down 119,800 tons from the end of last month. Meanwhile, there are more domestic glycol plant overhaul, the start-up continues to be low, production continues to contract, the supply side gives the market bottom support, but at the end of September, Yulin Chemical 1.8 million tons/year glycol plant will be put into operation, the market pressure will increase, while the domestic economy is weak, some areas of the epidemic repeated, combined with the impact of high temperature weather, demand recovery is slow, market participants are worried about the upcoming peak season, the current loom start-up At present, weaving machine starts are low, terminal orders are limited, double 11 orders are delayed, and demand is still weak.

In a comprehensive view, there is still room for profit repair under the low valuation of ethylene glycol, and the market will pick up when the peak season of "Golden Nine and Silver Ten" comes, but at the same time, the new device will also bring pressure to the market, and the contradiction between supply and demand is still more prominent.



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