The domestic ethylene glycol market is expected to fluctuate narrowly in the short term.

The market was slightly adjusted yesterday and the market trading atmosphere was general. As of 3:00 pm the market price in East China was around RMB 4100-4109/ton.

Raw materials: the Federal Reserve is expected to raise interest rates to trigger a recession, the dollar is stronger than China's recovery prospects, foreign time April 25, Europe and the United States oil prices closed down more than 2%. June WTI: 77.07 down 1.69 or 2.15%; June Brent: 80.77 down 1.96 or 2.37%.

Supply: On the supply side, domestic installations are incremental, with Hengli Petrochemical restarting on Sunday and a Dalian set of installations heating up and restarting. A 700,000-tonne unit in Southeast Asia has restarted recently, but is not yet qualified out of the product.

Demand: downstream polyester demand in general, near the May Day mini-holiday, the terminal orders are less.

Forecast: Overall, the international oil prices have fallen back and the cost side support has weakened. The demand side is not performing well and the market is not driven enough under high inventory. It is expected that the domestic ethylene glycol market will be narrowly oscillating in the short term.