Short-term ethylene glycol market expected to be weak and stable

Yesterday, the main market stabilization and adjustment, the general atmosphere of negotiation, the actual transaction stalemate, East China market closing price in 4120-4130 yuan / ton near.

The market is still in a state of flux, with the price of crude oil falling by 5.22%.

Supply: On the device side, a U.S. MEG plant of 830,000 tonnes/year is scheduled to restart at the end of this month on warming, which was previously stopped in July 2022 for efficiency reasons. The domestic ZPMC plant to raise the load plus part of the coal syngas plant restart led to domestic supply also showed an increase in the trend. In terms of overseas imports, with the increase in Iranian supplies and the upcoming start-up of the US South Asia plant at the end of March, the import volume will be further increased to 560,000-580,000 tonnes/month range.

Demand: The pace of downstream purchases has slightly increased, although terminal orders have increased and just demand support is dominant.

Forecast: From a comprehensive point of view, international oil prices continue to fall, more unstable factors in the periphery, incremental supply at home and abroad, and downstream polyester just demand support, the short-term ethylene glycol market is expected to be weak and stable.