Short-term domestic ethylene glycol market maintains weak pattern

The market was weak and consolidating yesterday, and the market trading atmosphere was general. As of 3:00 p.m. East China market prices were around 4085-4095 yuan/ton.

Raw materials: U.S. banks in trouble again, U.S. recession doubts dragged oil prices, foreign time April 26, Europe and the United States oil prices closed down. June WTI: 74.30 down 2.77 or 3.59%; June Brent: 77.69 down 3.08 or 3.81%.

Supply: On the supply side, a 340,000 ton/year MEG plant in Jiangsu has successfully completed its overhaul and the plant is in the process of restarting with normal warming, and is expected to be ready for discharge in the near future.

Demand: part of the overhaul device restart, the terminal performance is poor, polyester load narrow decline, supply and demand pattern gradually deteriorated.

Forecast: On the whole, crude oil is falling, peripheral drivers are not enough and the supply and demand pattern is poor. Short-term domestic ethylene glycol market maintains a weak pattern.