The short-term ethylene glycol market is expected to be weak and oscillating.

Yesterday's market shocks down, the general atmosphere of negotiation, the actual transaction stalemate, East China market closing price in 3985-3995 yuan / ton near.

Raw materials: despite the ECB continued aggressive rate hike 50 basis points, but Wall Street big banks to the first Republic Bank deposited 30 billion U.S. dollars, foreign time March 16, Europe and the United States oil prices closed up. April WTI: 68.35 up 0.74 or 1.09%; May Brent: 74.70 up 1.01 or 1.37%.

Supply: domestic supply, zhejiang petrochemical plant to raise the load plus some coal syngas plant restart led to domestic supply also showed an increase in the trend. Overseas imports, with the increase in Iranian sources and the United States South Asia plant to be opened at the end of March, imports will be further enhanced to 56-58 million tons / month range.

Demand: Despite the polyester plant opening rate slightly exceeding market expectations of 89%, it will be difficult to absorb the increase in glycol supply.

Forecast: On the whole, international oil prices continue to fall and cost support is weakening. Later domestic supply reduction, and some enterprises are expected to shift production, the domestic supply side of the phase reduction. The rigid demand for polyester end load lifting is stable, and the short-term ethylene glycol market is expected to be weak and oscillating.