Short - term domestic ethylene glycol market weak shock

Before the festival, the market is light, and the market trading atmosphere is general. By 3:00 PM, the price in East China market is around 4024-4034 yuan/ton. Raw materials: The Federal Reserve is expected to raise interest rates, concerns about a general slowdown in the United States economy, the outer trading time May 3 European and American oil prices continued to fall. June WTI: 68.60 down 3.06 down 4.27%; July Brent: 72.33 down 2.99 down 3.97%.

Supply: A set of 120,000 tons/year MEG device in Korea is parked before the festival for annual maintenance, which is expected to last about one month. May 1 reserve, port delivery speed increases, inventory is expected to decline.

Demand: The downstream polyester production reduction maintenance device continues to increase, polyester comprehensive load declines again, the terminal demand is not good.

Forecast: In general, crude oil fell sharply, supply and demand continued weak, high inventory to inhibit market sentiment, short-term domestic ethylene glycol market weak shock.