Price trend
According to data from SunSirs, on May 14, the average price of oil-based ethylene glycol was 5,173.33 RMB/ton, an increase of 26.66 RMB/ton from the previous statistical cycle.
The market price of ethylene glycol in East China fell on May 14. The average spot price in East China was 4,909 RMB/ton, down 30 RMB/ton or 0.61% from Monday.
Analysis review
In terms of inventory, as of May 17, the total ethylene glycol inventory in the main ports of East China was 514,900 tons, a decrease of 37,600 tons from last Thursday, a decrease of 6.81%, and a decrease of 86,000 tons or 14.31%from this Monday.
In terms of equipment, Sinopec North China Branch Yanshan Petrochemical's 80,000-ton plant restarted; Inner Mongolia Jianyuan is expected to start production this week; Satellite Petrochemical increased the load; Hubei Sanning is expected to have products at the end of May; Xinjiang Tianye’plant stopped near the 10th and is expected to last for one month.
Market outlook
Last week, MEG spot prices fell after the rise followed futures. Port inventory fell after a small accumulation of stock market, steam coal prices rose, raw material prices were high, ethylene glycol manufacturers were in a state of loss, cost support increased for the market, but the demand side weakened, polyester and ethylene glycol operating rates declined slightly, and the overall focus of chemical plate moved down. It is expected the market will continue to fluctuate at low levels.
