Ethylene glycol market morning forecast: market shakeout

The market was stable and small yesterday, the atmosphere of negotiation is general, the actual transaction is still possible, as of 3:00 pm East China market closing price in 4135-4145 yuan / ton near.

Raw materials: China's GDP data for the first quarter exceeded expectations, China-led demand expansion prospects overshadowed the Fed's continued tightening threat, foreign time April 18, Europe and the United States oil prices closed up slightly. May WTI: 80.86 up 0.03 or 0.04%; June Brent: 84.77 up 0.01 or 0.01%.

Supply: late device supply increment expected, May-June due to large device maintenance and conversion more. Glycol inventory is at a high level.

Demand: The downstream polyester factory stocking level is high and the demand has fallen back compared with the previous period.

Forecast: From a comprehensive point of view, international oil price shock suppressed market sentiment, poor terminal performance polyester production and sales can not be sustained, later in May-June due to large plant overhaul and conversion of more production, is expected to short-term ethylene glycol market oscillation operation.