Short-term domestic ethylene glycol market expected to oscillate

Yesterday, the main market stability and adjustment, the general atmosphere of negotiation, the actual transaction is still possible, as of 3:00 p.m. East China market closing prices in 4090-4100 yuan / ton near.

Raw materials: the United States March CPI continued to fall to ease the pressure of the Federal Reserve interest rate hikes, the Biden administration intends to replenish the strategic oil reserves as soon as possible, foreign time April 12, European and American oil prices rose more than 2%. May WTI: 83.26 up 1.73 or 2.12%; June Brent: 87.33 up 1.72 or 2.01%.

Supply: port inventory depleted 40,000 tons plus Hainan refining parking, glycol market rebound.

Demand: downstream polyester start is difficult to increase again, just demand procurement is the main.

Forecast: Overall, domestic supply weakened, the phase of supply and demand contradiction improved, international oil prices rebounded, the cost side support, but the terminal order situation is poor, is expected to short-term domestic glycol market oscillation operation.