The glycol market is expected to come under pressure gradually this week

The market was narrowly oscillating yesterday, with a fair trading atmosphere. As of 3:00 pm the price in East China market was around RMB 4250-4260/ton.

Supply: International crude oil fell, ethylene glycol showed some retracement trend, affected by factors such as inventory growth, prices shocked down, the US dollar market was light, and the depreciation of RMB exchange rate aggravated the market wait-and-see sentiment. Phase import contraction.

Demand: rigid demand supported by the port is still expected to depot, the terminal order situation is poor, polyester production and sales can not be sustained, the demand side of the dragging market lack of sustained momentum.

Forecast: The international oil price is weak, the overall commodity sentiment is pessimistic, some of the unexpected parking device restart, imports are expected to resume, it is expected that the glycol market will be under pressure gradually this week, pay attention to the international crude oil and port inventory changes this week.