Last week, the domestic ethylene glycol market price first rose and then fell. The average domestic ethylene glycol market price at the beginning of last week was 5,290 yuan/ton. At the beginning of last week, the domestic ethylene glycol market price The average market price was 5,296.43 yuan/ton, rising to 5,314 yuan/ton during the week, an increase of 0.11% last week, and a year-on-year price decrease of 2.43%.
Market Analysis
Product: The focus of the domestic ethylene glycol market shifted slightly last week, with active trading on the market. Some areas were affected by environmental pressure, and the load of manufacturers’ installations was low. Inventory is average. The ethylene glycol market in East China is relatively active, with the mainstream offer at about 5,250 yuan/ton, and the market spot is tight; the ethylene glycol market price in South China is stable, with the mainstream transaction price in the market at around 5,270 yuan/ton; the ethylene glycol market in North China is relatively tight. The overall market is stable, with the market transaction price at around 5,300 yuan/ton, and the market performance of goods is stable.
Industrial chain: Crude oil showed an overall upward trend last week. U.S. crude oil futures hit a one-year high on Monday (October 10) after Russian President Vladimir Putin came out to support international efforts to limit production, raising hopes that Russia will join forces with other oil-producing countries to restore the supply and demand balance in the global oil market. hope. The external price of ethylene glycol first rose and then fell. The closing price on Thursday was US$635/ton. The domestic ethylene glycol spot market price fluctuated with the external price; the downstream polyester manufacturers’ equipment was operating normally, and the demand side of the ethylene glycol market was stable.
Industry: Last week, the domestic ethylene glycol market remained generally stable. Inventories at major domestic ports were low, downstream polyester manufacturers had strong purchasing intentions, and traders operated frequently in the market. At present, the domestic polyester manufacturers’ equipment is operating at high load, and the terminal production and sales of the polyester industry are performing well, which supports the market price of ethylene glycol. It is expected that the domestic ethylene glycol market price will remain stable in the short term.
Market Outlook
The ethylene glycol analyst of SunSirs believes that the equipment of domestic downstream polyester manufacturers is operating normally and the downstream procurement demand is stable. In the future, we still need to pay attention to the enthusiasm of downstream polyester manufacturers for stocking and the crude oil market. trend, it is expected that the ethylene glycol market price will mainly maintain stability in the short term.
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