The short-term domestic ethylene glycol market is mainly weak and consolidating

The market was largely stable and small yesterday, with the commodity atmosphere turning weak to suppress market sentiment. As of 3:00 pm, prices in the East China market were around RMB4170-4180/tonne.

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: phased supply-demand contradictions eased, with continued depot expectations at the port, yet poor terminal orders, with domestic supply falling favourably to cash in on the lack of new drivers in the market.

Forecast: From a comprehensive perspective, international crude oil ended its rebound and appeared to be on a downward trend. The short-term domestic ethylene glycol market is mainly weak and consolidating.