Price trend
According to the data of SunSirs, on March 31, the average price of oil-based ethylene glycol was 5,200 RMB/ton, an increase of 33.33 RMB/ton from the previous statistical cycle.
Analysis review
In terms of equipment: Taiwan Nanya's 720,000-ton/year ethylene glycol plant started maintenance ahead of schedule, and planned maintenance for 2 months.This month, ethylene glycol rose first and then fell, and the overall international crude oil was strong, corresponding to the high prices of naphtha and ethylene. After the increase in the first half of this month, many terminals were unacceptable. In the second half of this month, the cost was under pressure to follow the increase, but the weak demand had restrained the rise of ethylene glycol. In addition to the impact of the recent epidemic, the EO/EG co-production unit was tilted towards ethylene glycol, the logistics efficiency of the park was slowed down, the terminal orders were lower than expected, and the transaction was deadlocked. At present, ethylene glycol manufacturers are operating at reduced loads, and the operating rate has dropped by 3.2% compared with the beginning of the month. The downstream polyester inventory is under pressure, and the start of construction has dropped by 1.82% compared with the beginning of the month. There is still an expectation of load reduction in April.
Market outlook
The sluggish terminal demand is still a major factor dragging down the market.
