Short-term ethylene glycol market narrow oscillation

The market was consolidating and running yesterday. As of 3:00 pm the market price in East China was around RMB4163-4173/ton.

Supply: On the device side, Shaanxi Weihua was parked and ethylene glycol capacity utilisation dropped to around 59.14%. Staged port inventory de-stocking.

Demand: international oil prices continue to strengthen the cost side to form support, but the terminal orders are poor, the demand side of the drive is not enough, polyester production and sales are difficult to sustain.

Forecast: Overall, international oil prices continue to strengthen cost-side support is strong, demand is difficult to form a sustained momentum, is expected to short-term ethylene glycol market narrow oscillation.