Short - term ethylene glycol market is expected to continue weak

Yesterday market futures rose slightly, the market trading atmosphere is general. As of 3:00 PM, the price in East China market is around 4078-4088 yuan/ton.

Raw materials: Worries about the worsening of the US banking crisis continued to spread, the European Central Bank as scheduled to raise interest rates by 25 basis points and the United Arab Emirates from May to cut 5% of shipments, trading time on May 4 European and American oil prices closed mixed. June WTI: 68.56, down 0.04, down 0.06%; July Brent: 72.50 + 0.17 + 0.24%.

Supply: May 1, 1 holiday preparation, port delivery speed increase, inventory decline. The inventory of this week was 99.10 yuan/ton, which decreased by 8.53 yuan/ton from the previous month.

Demand: After the polyester end has certain replenishment requirements, polyester end load decreased slightly.

Prediction: In general, the international oil price is weak, the support of the cost end is weakened, some maintenance devices are restarted later, and the demand end continues to be pessimistic. Short - term ethylene glycol market is expected to continue weak.