Views: 0 Author: Site Editor Publish Time: 2022-10-05 Origin: Site
Ethylene glycol: market summary and market outlook in the third quarter
In the third quarter, the price of ethylene glycol fluctuated at the bottom as a whole. Although the "Golden Nine" peak season has passed, the demand has not improved substantially, and the contradiction between supply and demand is still prominent. The outlook is worrying.
On the supply side, due to high raw material prices, many domestic installations parked. In the third quarter, Maoming Petrochemical, Zhenhai Refinery, Hengli, Satellite Petrochemical, Zhongke Refinery, and coal-based units Inner Mongolia Yigao, Hongsifang, and Weihe Binhua. , Hubei Sanning, etc. have been shut down for maintenance to varying degrees. At the same time, some devices have been shut down for a long time, and the overall operation is less than 50%; in terms of inventory, since July, the overall port inventory has shown a trend of depletion. At the end of September, the inventory was reduced to 794,300 tons, and the market also rebounded with shocks due to the destocking. However, due to the suppression of the demand side, the market's upward drive was insufficient, and the rebound space was limited.
In terms of demand, the overall demand in the third quarter was flat. The looms started to operate at a low level under the influence of high temperature weather in July and August. Although the traditional peak season of "Golden Nine Silver Ten" arrived, due to repeated domestic epidemics, the macro economy was weak, consumption was suppressed, and terminal orders were lacking. Foreign trade orders have also been lost. In July, due to the high inventory of polyester factories, some companies implemented production reductions, and the start of construction dropped to 79%. At present, it has recovered to around 83%. The willingness to stock up terminal raw materials is not strong, and polyester production and sales are difficult to continue. Sexuality improves, and the demand side drags down the market.
In the later period, under the background of industry profit losses, it is difficult for the start of ethylene glycol plant to pick up significantly. In addition, the gradual release of production in the later stage will increase the pressure on the supply side, and the contradiction between supply and demand is still difficult to improve. In the long run, the price of ethylene glycol is difficult to get rid of the bottom. Location.
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