Short-term ethylene glycol market expected to consolidate and run

The pre-holiday market range finishing, the general atmosphere of negotiation, the actual transaction is still possible, as of 3:00 pm East China market closing prices in 4160-4170 yuan / ton near. Raw materials: the market weighed the weak U.S. economic data to intensify recession concerns, the U.S. inventory decline and the impact of OPEC + production cut plans, foreign time April 5, Europe and the United States oil prices closed up or down. May WTI: 80.61 down 0.1 down 0.12%; June Brent: 84.99 up 0.05 up 0.06%.

Supply: domestic supply appeared to reduce the amount of expected, including Hengli Petrochemical as scheduled maintenance, Gulai Petrochemical temporary stop. Overseas installations in South Korea two sets of installations in April-May overhaul plans, horse oil again parking, the overall import arrivals are expected to decline slightly, imports in April-May is expected to 560,000 tons scale.

Demand: the main downstream polyester 90% of the high opening also difficult to digest the existing supply, the market in April to maintain a tight balance.

Forecast: From a comprehensive point of view, international oil prices are shaking, port stocks remain high, the demand side just demand procurement is expected to retract, domestic supply reduction, supply and demand contradiction has slightly eased, is expected to short-term ethylene glycol market consolidation operation.