The short-term domestic ethylene glycol market is expected to be weak and oscillating

The market was warming and finishing yesterday, and the market trading atmosphere was fair. As of 3:00 pm the market price in East China was around RMB 4250-4255/ton.

Supply: The market is concerned about the restart of Zhenhai Refinery's 650,000-tonne unit and the overhaul of Satellite Petrochemical's 900,000-tonne unit. Sanjiang plans to switch to EG, and Hengli downstream ethanolamine is postponed to the end of July. As for new units, Sanjiang Petrochemical's 1 million ton EG unit will be put into operation soon, and the marginal supply and demand for ethylene glycol will turn weaker.

Demand: The current low season for polyester demand, limited space above ethylene glycol and weak trend.

Forecast: From a comprehensive point of view, the number of unexpected stopping devices has increased, the demand-side load has further increased, the supply and demand maintain tight balance, however, the demand-side drive is insufficient, the port has certain tired storage is expected, and there are more unstable factors in the periphery, the overall commodity sentiment is weak, it is expected that the short-term domestic ethylene glycol market is mainly weak and oscillating.