Short-term domestic ethylene glycol market oscillation

On Friday the market narrowly oscillated, the general atmosphere of negotiation, the actual transaction is still possible, as of 3:00 p.m. East China market closing price in 4085-4095 yuan / ton near.                        Raw materials: the market weighed the outlook for the U.S. economy and monetary policy, the IEA warned oil-producing countries to cut production will lead to a widening supply gap, foreign time April 14, Europe and the United States oil prices rebounded narrowly. May WTI: 82.52 up 0.36 or 0.44%; June Brent: 86.31 up 0.22 or 0.25%.

Supply: overall tight balance. Equipment, Guangxi, a 200,000 tons / year of syngas MEG plant short stop, the initial plan to restart near next week, the follow-up continues to follow. Imports of U.S. South Asia, South Korea device restart progress is less than expected and part of the overhaul, the overall import volume or will be small.

Demand: downstream polyester device cut production overhaul is the main, there are also local factory load fine-tuning, polyester load has declined.

Forecast: a comprehensive view, the domestic supply shrinkage, the phase of supply and demand structure to improve, but the demand side of the pessimism spread, polyester production and sales sluggish, the terminal performance is poor. It is difficult to relieve the high inventory at the port, and the short-term domestic ethylene glycol market is running in oscillation.