The overall atmosphere in the ethylene glycol market is inelastic

The market was slightly adjusted yesterday, the atmosphere of negotiation is general, the actual transaction is still possible, as of 3:00 pm East China market closing price in 4120-4125 yuan/ton near. The market is worried about the Fed's continued tightening damage to the economy and fuel demand, Iraq will resume oil exports from the Kurdistan region this week, foreign time April 19, European and American oil prices fell about 2%. May WTI: 79.16 down 1.70 down 2.10%; June Brent: 83.12 down 1.65 down 1.95%. 1.95%.

Supply: In terms of installations, the new domestic installation, Sanjiang Petrochemicals 1 million tonne plant is expected to be put into operation in May, including 800,000 tonnes of EO and 200,000 tonnes of MEG. The United States a 830,000 tons / year MEG plant in April 15 near the equipment abnormal parking maintenance, is expected to affect the length of time in the vicinity of 3 weeks.

Demand: downstream polyester production and sales than the previous production and sales decline, the terminal orders are not good.

Forecast: From a comprehensive point of view, port stocks remain high, polyester production and sales are down, terminal orders are poor, the overall market atmosphere is inelastic, the short-term domestic ethylene glycol market is oscillating.