The price of ethylene glycol fluctuated
According to the data of the business community, the average price of domestic oil to ethylene glycol was 4058.33 yuan/ton on December 29, basically unchanged from the previous trading day.
On December 29, the spot price of ethylene glycol in the East China market was basically stable, and the external implementation price range of spot prices of mainstream manufacturers in East China was 3900-4110 yuan/ton; The spot price of ethylene glycol in the South China market was basically stable, and the spot external executive price range of mainstream manufacturers in East China was 4050 yuan/ton; The spot price of ethylene glycol in North China market was basically stable, and the spot external executive price of mainstream manufacturers in North China remained 4050 yuan/ton.
Enhancement of glycol long short game
Bad factors:
| Melamine |
1. Supply side: In December, a new unit was put into operation, and the domestic supply pressure of ethylene glycol increased gradually. In terms of devices, the 300000 ton Tongliao Jinmei device has been put into operation and restarted recently, and the device was shut down in early December; The 300000 ton unit of Shanxi Meijin was shut down for some reason in the early stage, and has been restarted in the middle and late December. At present, it is running at half load; The 300000 ton unit of Shanxi Woneng has been restarted recently, and the load is gradually increasing. The unit was shut down in late October; The 800000t/a EO/EG new unit of Hainan Refining&Chemical is planned to be put into production at the end of December; A new set of 1 million ton/year MEG unit in Lianyungang was started on December 3, with the current load of about 80%. In terms of shutdown, on December 7, the 300000 ton unit of Yangzi Petrochemical stopped due to upstream unit failure, and the restart time is to be determined. On the whole, the domestic unit capacity has been released, and the domestic operating rate is about 59%.
2. Inventory: The port inventory rebounded in December. The MEG port inventory in the main port area of East China reached a high of 980,000 tons in the month. On the 26th, the MEG port inventory in the main port area of East China was 891,400 tons, still higher than that in November.
3. Weak downstream demand: public health factors are superimposed near the holidays, the terminal weaving factory is running at a reduced production rate, the polyester start-up load is not high, and the demand for ethylene glycol may be relatively low. At present, the operating load of polyester is reduced to a low level. Recently, the short-term terminal factory is seriously short of work, and the starting load of the weaving industry has dropped significantly again.
Favorable factors:
| Sodium Molybdate |
1. Import and export data: The import volume of ethylene glycol in November was 546300 tons, down 9.26% month on month and 26.46% year on year; In November, the export volume of ethylene glycol was 3400 tons, up 129.17% month on month and 673.56% year on year.
2. The price of crude oil rebounded: at the cost end, the center of gravity of the oil price moved upward. The current price of ethylene glycol is low, and the influence of cost factors on the price is amplified.
in summary:
As a whole, ethylene glycol is in the stage of strong supply and weak demand, and the future market is mainly weak and stable.
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