HS code：2905310000 Ethylene glycol

Crude oil prices rose yesterday, the plate is strong oscillation, the market negotiation atmosphere is general, East China market closing price in 4220-4230 yuan / ton near.

Feedstock: Continued concerns about global economic growth overshadowed the supply-constrained impact and prompted investors to take profits, foreign time February 21, Europe and the United States oil prices closed lower. March WTI: 76.16 down 0.18 down 0.23%; April Brent: 83.05 down 1.02 down 1.21%.

Supply: On the device side, Fude Energy's 500,000 tons/year MEG started stopping for maintenance on Feb. 19 and is expected to last about 10 days. Hainan a set of 800,000 tons / year of MEG new device has recently been successfully discharged, the current load at 7-8% operation. At present, the port inventory remains high, and the planned arrivals during the week are around 158,000 tons, and the inventory is still under pressure.

Demand: The overall start-up of terminal weaving mills has picked up, but due to the poor order situation and the continued rise of international crude oil, factories are cautious in purchasing raw materials and polyester demand is weak, so it is difficult to form a solid support on the demand side of glycol.

Forecast: From a comprehensive point of view, although the market has rebounded under the boost of cost side, the current supply and demand side is weak and the market rebound is weak, so it is expected to maintain a narrow shaking pattern in the short term.