The short-term domestic ethylene glycol market is expected to maintain oscillation

The market fluctuated narrowly on Friday, and the market trading atmosphere was still acceptable. As of 3:00 pm, the market price in East China was around RMB4270-4280/ton.

Supply: The supply side still has incremental expectations, the demand side performance is less than expected, the overall supply and demand to maintain a weak pattern, in addition to macro, the domestic economic recovery and overseas economic recession interaction, macro instability factors more. Port inventory continues to de-stocking, the phase of supply and demand contradiction easing to form a certain support for the market.

Demand: end. End order situation is poor, polyester production and sales can not be sustained, the demand side of the drag on the market lack of sustained momentum.

Forecast: Overall, international oil prices continue to weaken to suppress commodity sentiment, the terminal order situation is poor, the downstream more on-demand procurement, but some devices unexpectedly stop or overhaul, the domestic supply shrinkage is obvious, short-term domestic glycol market to maintain oscillation is expected.