The short-term domestic ethylene glycol market is expected to maintain the oscillating pattern

The market was muted yesterday with a general trading atmosphere. As of 3:00 pm, the market price in East China was around 4085-4095 yuan/ton.

Raw materials: the United States of America's strategic oil reserves inventory is low, China's oil demand to good boost, foreign time April 24, Europe and the United States oil prices closed up. June WTI: 78.76 up 0.89 or 1.14%; June Brent: 82.73 up 1.07 or 1.31%.

Supply: On the plant side, a 900,000 ton/year MEG plant in Dalian is currently warming up and restarting and is expected to be discharged tomorrow and the next day, the plant was previously overhauled near 4.1. A 700,000-tonne plant in Southeast Asia has recently restarted, but has not yet qualified to produce products.

Demand: downstream polyester cautiously watch the market, the demand side to continue the pessimistic expectations, the market lacks substantial drive.

Forecast: Comprehensive view, Hengli Petrochemical plans to restart on Sunday, April-June as ZPMC, satellite petrochemical conversion and overhaul, domestic supply down to 1.2 million tons / month, ethylene glycol supply and demand gradually turned to the depot pattern. The short-term domestic ethylene glycol market is expected to maintain the oscillating pattern.