Ethylene glycol: the domestic epidemic situation is severe, and demand continues to slump

Ethylene glycol: the domestic epidemic situation is severe, and demand continues to slump

This month, the domestic ethylene glycol market went down sharply, the trading atmosphere was light, and the actual transaction was deadlocked.

During the month, the international crude oil fluctuated at a high level, but the impact of external factors on the ethylene glycol market weakened, and the fundamentals of supply and demand dominated the market. At the beginning of the month, under the drag of weak demand, the market fell below 3, and as the price continued to fall, the industry's profit loss expanded. The overall start-up of the plant has dropped, but due to the large base of production capacity, the new plant has been successfully launched on the market, and it is difficult to cool down the port shipment and go to the warehouse, and the supply side is still under pressure. The domestic epidemic continues to ferment, many cities have been silent for a long time, logistics and transportation difficulties have seriously affected terminal demand, finished product shipments are difficult, domestic and foreign trade orders are limited, and some weaving factories are under financial pressure and have early holiday expectations.

On the whole, at present, the profits of various process industries can suffer serious losses, and it is difficult for the start-up of equipment to increase significantly. However, the epidemic situation in many cities in China is raging, and it is difficult to recover demand under the weak economic environment, which seriously suppresses market sentiment. The market will remain volatile at a low level, and we will continue to pay attention to port inventories and changes in demand in the later period.