Short-term domestic ethylene glycol market continues weak pattern

1, market concerns about the feasibility of the U.S. debt ceiling agreement resurfaced, while market sentiment was cautious before the OPEC+ meeting, international oil prices fell.

2、East China main port inventory was 933,100 tonnes on May 29, down 64,500 tonnes from the previous cycle.

3, Glycol capacity utilisation rate remained near 49.66%.

4, polyester integrated capacity utilization rate at 89.42%.

Market outlook: the market is not driven enough, the overall sentiment is cautiously weak, the last trading day Zhangjiagang ethylene glycol spot closed to 3986 yuan / ton. The overall domestic supply is tight and the demand side is just stable, supply and demand maintain tight balance, but the terminal lacks speculative demand, spot buying is insufficient, international oil prices have dropped sharply, short-term domestic ethylene glycol market continues to be weak pattern.