List of ethylene glycol prices

According to data from Business News Agency, on October 30th, the average price of domestic oil to ethylene glycol was 4073.33 yuan/ton, a decrease of 2.63% compared to the beginning of the month. The prices in various regions are as follows:

The price range for spot goods executed by mainstream manufacturers in East China is between 3950-4160 yuan/ton; The spot price of ethylene glycol in the South China market is 3950 yuan/ton, while the price range for mainstream manufacturers in Central China is 3950 yuan/ton; The spot price for mainstream manufacturers in North China is 4160 yuan/ton.

On October 27th, the CIF price of ethylene glycol in China was 467 US dollars/ton; The CIF Southeast Asia price is 474 US dollars per ton.

Ethylene glycol fundamentals

Supply side

Recently, two units with a total production capacity of 1.2 million tons have been restarted at the ethylene glycol supply end, and the units of Sanjiang Petrochemical, Shanxi Woneng, and Zhenhai Refining and Chemical have been restarted. The market operating rate is expected to rebound in the short term.

Port accumulation has slightly eased

This week, the ethylene glycol inventory in the main port of East China has slightly decreased. As of October 30, 2023, the total spot inventory of ethylene glycol in the main port of East China is 1.043 million tons, and the port inventory is still relatively high. The main inventory of ethylene glycol in East China is still above 1 million tons, but the pressure on accumulated inventory in the early stage has been alleviated.

Future market forecast

After the decline in ethylene glycol prices in October, the current long short game has intensified. In the short term, due to the significant decline in the previous period, macroeconomic sentiment has rebounded in the near future, and ethylene glycol prices have stabilized. It is expected that the probability of maintaining a volatile sideways trend in the short term will increase.

According to the Commodity Market Analysis System of the Business Society, the domestic PTA market has slightly rebounded this week (October 23-27), with an average market price of 5875 yuan/ton in East China as of October 27, an increase of 0.42% compared to the beginning of the week.

In terms of PTA supply, the industry’s operating rate is 78%. The Zhuhai Ineos 1 # 110000 ton PTA plant was overhauled in mid October until the end of November, with a load of 80-90% for the 2 # 125000 ton PTA plant. In addition, Hengli’s 2.2 million ton PTA plant has been delayed in restarting and contract goods have been reduced. Next week, Yisheng Ningbo’s 2.2 million ton and Yadong Petrochemical’s 700000 ton PTA units are scheduled for maintenance in early November. There are currently no plans to restart new PTA devices, and the supply of PTA goods has decreased.

Recently, crude oil prices have fluctuated repeatedly due to the conflict between Palestine and Israel, as well as expectations of weak demand. On October 26th, the settlement price of the main contract for WTI crude oil futures in the United States was at $83.21 per barrel, while the settlement price of the main contract for Brent crude oil futures was at 87.05 yuan per barrel. Overall cost support has weakened.

The polyester load remains at a high level of nearly 90%, relatively strong. As the end of October approaches, terminals are gradually weakening, and the “Double Eleven” and Christmas promotion effects are limited, resulting in insufficient motivation to undertake new orders. At present, most weaving manufacturers have increased inventory pressure, coupled with weak new orders. The enthusiasm for replenishing raw materials has decreased, only maintaining just in demand and consuming more inventory of raw materials. This has caused a certain drag on the polyester market, and the prices of various polyester products have shown a slight weakening.

Business analysts believe that the recent reduction of contract goods by mainstream PTA suppliers has boosted the market and temporarily eased the supply-demand contradiction. However, due to weakened cost support and insufficient terminal demand, there is still downside risk in PTA prices.

According to the Commodity Market Analysis System of Business Society, from October 19th to 26th, the domestic ethanol price fell from 6962 yuan/ton to 6895 yuan/ton, with a weekly price drop of 0.97%, a month on month decrease of 2.89%, and a year-on-year increase of 2.43%. The production enterprise orders and delivers goods with stable prices, and some factory prices are not high. In the case of poor demand, the overall delivery situation is average.

On the cost side, the market price of raw corn fluctuated slightly. Recently, imported corn has been arriving and being released, and inventory in southern ports has slightly increased. As the end of the month approaches, new grain from the north is about to arrive in Nangang one after another, and downstream feed enterprises still maintain a strategy of using and collecting as needed, resulting in weak market supply and demand. There are temporary bearish factors on the cost side of ethanol.

On the supply side, the majority of production enterprises in various regions park their facilities, and the operating rate of normally operating enterprises remains at 30-40%. A small number of enterprises have low inventory, while most enterprises have relatively high inventory. Shuntong Short Stop is about to resume. Hongzhan Huanan is recovering, and there is a possibility of Liaoyuan Jufeng starting up. The supply side of ethanol is influenced by bearish factors.

On the demand side, most ethyl acetate factories maintained normal production status in October. Other chemical products require procurement. The short-term demand for ethanol is mixed.

In the future market forecast, the cost is bearish and the supply and demand are weak. Ethanol analysts from Business Society predict that the domestic ethanol market may be dominated by weak trends in the short term.

Price trend

Recently, the domestic ABS market has stabilized, with spot prices of various brands falling and then trading sideways. According to the Commodity Market Analysis System of the Business Society, as of October 23, the average price of ABS sample products was 11025 yuan/ton, an increase or decrease of -8.12% compared to the average price level at the beginning of the month.

Cause analysis

In terms of supply: The high load in the ABS industry in the early stage continued, resulting in abundant supply of goods on the site, a significant increase in inventory positions, and poor profitability of the enterprise, resulting in losses. After a week of forced load reduction, the domestic operating rate has decreased by about 6% to 80%, and the drag on the spot market by the supply side has decreased, resulting in a slight easing of supply pressure.

In terms of raw materials, the overall performance of the upstream three materials of ABS has been relatively good recently, with the acrylonitrile market operating at a high level. The price of raw materials fluctuates, and the support for acrylonitrile is still acceptable; In addition, the construction of acrylonitrile units in the early stage slightly decreased, and the supply and demand side slightly supported, resulting in a high and firm price of acrylonitrile.

Last week, the domestic butadiene market rose strongly. The external market is relatively high, and there is an export profit window in China, boosting the market atmosphere. At the same time, temporary parking facilities have been installed in both East and South China, resulting in a significant reduction in market supply due to planned maintenance. Under the boost of fundamentals, prices of major production enterprises have increased.

From the figure below, it can be seen that the market price of styrene has recently increased. The international oil price is at a high level, and the pure benzene market is fluctuating and consolidating. Cost support is good. Last week, styrene production decreased, inventory decreased, and market transactions were positive. The styrene market slightly rose.

In terms of demand: Recently, downstream factories of ABS, including the main terminal home appliance industry, have shown low enthusiasm for stocking. The preliminary inventory needs time to digest. After the ABS price fell, a portion of the just in need inventory was released, and the demand side was mainly focused on maintaining production, which did not provide enough support to the market.

Future Market Forecast

Last week, the overall performance of the upstream three materials of ABS was flat with two increases, providing reasonable support for the cost side of ABS. The high starting point of the petrochemical plant has dropped, and some supply pressures have eased. Poor demand side consumption. It is expected that the ABS market may remain weak and stable in the short term.

According to the Commodity Market Analysis System of the Business Society, the domestic spandex market continued to maintain stability this week (October 16-20). As of October 20, the price of 40D spandex was 34250 yuan/ton, which was unchanged from the beginning of the week and a year-on-year decrease of 9.57%. The industry’s starting point remained around 72%. At present, the quotation of the spandex factory is temporarily stable, and there are discounts for actual orders.

Current mainstream price statistics of spandex market (unit: yuan/ton)

20D/ 30D/ 40D

Zhejiang/ 38000./37000./35000

Henan/ 37000./35500./33000

Fujian/ 37000./34000./32500

Jiangsu/ 39500./37500./36500

The domestic pure MDI price continues to decline, and the mainstream spot market in the East China region is negotiating a price of 20000 to 20300 yuan/ton for wire transfer and self pickup in barrels, a decrease of about 200 yuan/ton compared to last week. The domestic price of PTMEG is stable, with a molecular weight of 1800 quoted at 21000 yuan/ton, and some factories do not offer prices to the outside world temporarily. The overall operating rate of the industry is around 78%. Two sets of 30000 ton/year PTMEG units from Henan Nenghua were shut down on the evening of September 20th, following the shutdown of raw materials, and are expected to restart in the near future.

After the National Day holiday, the textile market’s shipments were lukewarm and did not show the expected explosive scene of “nine gold and ten silver”. Overall performance was fatigue, with orders mainly being small and medium-sized. Moreover, most textile companies have reported that the recovery time for the final payment is relatively long, resulting in increased financial pressure and inventory pressure on finished products. Therefore, they are more cautious in starting and producing. Currently, the operating rate of weaving machines in the Jiangsu and Zhejiang regions is around 65%. The ‘Silver Ten’ is over half way through, and the confidence support of enterprises is limited. Many people take a wait-and-see attitude and place orders cautiously.

Analysts from Business Society believe that the current spandex market is in a stalemate, with weaker support for the raw material end, and downstream maintenance is just in need of follow-up. During the peak season, the overall market situation was weaker than expected, and the purchase and sales volume was delayed, which did not meet expectations. There is generally a lack of confidence in the future market. In the short term, without significant improvement in fundamentals, the price of spandex may be weak.

1、 Price trend

According to the Commodity Market Analysis System of the Business Society, as of October 17th, the average market price of 55% powdered ammonium phosphate in China was 3083 yuan/ton, which is stable compared to the average market price of 3083 yuan/ton on October 1st.

According to the Commodity Market Analysis System of the Business Society, as of October 17th, the average market price of 64% diammonium phosphate in China was 3883 yuan/ton, which is 0.21% higher than the average market price of 3875 yuan/ton on October 1st.

2、 Market analysis

Market quotation situation

Since October, the market price of ammonium phosphate has been mainly in consolidation operation. As of October 17th, the market price of 55 powdered ammonium in Hubei region is around 3050 yuan/ton, while the factory price of 55 powdered ammonium in Henan region is around 3100 yuan/ton, with actual negotiations being the main focus. The 64% market quotation for diammonium in Shandong region is about 3900 yuan/ton, and the 57% market quotation for diammonium is about 3400 yuan/ton. The actual transaction is negotiated.

Cost side

The price of raw material phosphate rock has increased, the price of raw material sulfur has decreased, and the cost side is mixed.

In terms of raw material sulfur. Since October, the domestic sulfur market trend has been mainly downward. As of October 17th, the reference average price of sulfur in East China is 916.67 yuan/ton.

In terms of raw phosphorus ore. After the end of the National Day holiday, the overall trend of phosphorus ore market prices continues to rise. As of October 17th, the domestic market price of 30 grade phosphate ore is based on 998 yuan/ton, with a post holiday price increase of 2.89%. It is expected that in the short term, the overall high level of the phosphorus ore market will be mainly strong.

Supply and demand side

At present, there are relatively few new orders in the monoammonium phosphate market, but there is still support from pending orders, and the market is mainly wait-and-see. Recently, there has been an increase in equipment maintenance for enterprises, resulting in a decrease in market supply. The supply of diammonium phosphate in some areas is tight, and the market trading direction is good. Autumn wheat fertilizer is sweeping away, and demand in the Northeast market is concentrated.

3、 Future Market Forecast

According to ammonium phosphate analysts from Business Society, the current price of sulfur, the raw material for ammonium phosphate, has continued to decline, and cost support is not strong. However, the autumn market demand is still there, and with the support of pending orders, the market continues to be strong. It is expected that the short-term ammonium phosphate market will be mainly organized and operated.

Price trend

According to the Commodity Market Analysis System of Business Society, the sulfur price trend in East China continued to decline this week. On October 15th, the sulfur price was 933.33 yuan/ton, and on October 9th, the sulfur price was 956.67 yuan/ton, a decrease of 2.44% during the week and 9.20% compared to the beginning of the month.

This week, the sulfur market in East China is weak, and the terminal phosphate fertilizer market has come to an end. After the holiday, downstream replenishment demand is weak, new orders in the market are reduced, and the on-site trading atmosphere is light. The shipment of sulfur refineries is not smooth, and the inventory pressure of manufacturers is increasing. In order to stimulate the continuous reduction of sulfur quotations for shipment, the sulfur price has dropped significantly during the week. As of the 13th, the mainstream price of solid sulfur in Shandong refineries is around 930-970 yuan/ton; The mainstream price of liquid sulfur is between 900-950 yuan/ton.

Downstream market of the industrial chain

The downstream sulfuric acid price trend is weak and stable. On October 15th, the average domestic sulfuric acid price was 306.00 yuan/ton, which is consistent with the price of 306.00 yuan/ton on October 9th. The demand in the terminal industry has weakened, downstream procurement has slowed down, and the mentality of the industry is mainly wait-and-see. Sour enterprises have temporarily stabilized their shipments, and the focus of market transactions is relatively low.

The monoammonium phosphate market is operating smoothly. On October 15th, the average market price of 55% powdered monoammonium was 3083.33 yuan/ton. On October 9th, the average market price of 55% powdered monoammonium was 3083.33 yuan/ton, and the price remained stable during the week. The autumn sales of phosphate fertilizer have come to an end, with a decrease in new orders for monoammonium phosphate and weakened demand support. However, the factory still has support for pending orders. Coupled with cost impacts, the price of monoammonium phosphate has stabilized and operated.

Future Market Forecast

Business Society sulfur analysts believe that the operation of sulfur refining plants is normal, with sufficient market supply of goods, average downstream demand, no longer favorable terminal conditions, and effective support on the market. Under the supply and demand game, it is expected that the sulfur market will continue to operate weakly in the future, with price fluctuations. Specific attention will be paid to downstream follow-up in the future.

According to the monitoring of the Commodity Market Analysis System of the Business Society, the domestic price of LLDPE (7042) was 8438 yuan/ton on October 1, and the average price on October 13 was 8238 yuan/ton. During this period, the quotation fell by 2.37%.

According to the monitoring of the Commodity Market Analysis System of the Business Society, the average ex factory price of LDPE (2426H) was 9612 yuan/ton on October 1st, and 9437 yuan/ton on October 13th. During this period, the quotation decreased by 1.82%.

According to the monitoring of the Commodity Market Analysis System of the Business Society, the average ex factory price of HDPE (5000S) was 9087 yuan/ton on October 1st, and 8800 yuan/ton on October 13th. During this period, the quotation decreased by 3.16%.

After the holiday, the price of polyethylene showed a downward trend. During holidays, the international crude oil market fell, and cost support for polyethylene weakened. In order to reduce inventory, the factory prices of petrochemical enterprises have been lowered, and traders have adjusted accordingly. After the holiday, market demand fell short of expectations, and market procurement was cautious, with more profits being offered to promote transactions. Among them, during the off-season of aquaculture net production, there was insufficient follow-up on orders.

On October 13th, polyethylene l2401 rose 0.07% and closed at 8021. After the National Day holiday, the overall trend of polyethylene futures market is weak.

Downstream factories have limited replenishment after the holiday. But during the peak season of demand for greenhouse films, the demand is relatively stable; After the continuous decline in the polyethylene market after the holiday, it is expected that polyethylene may be mainly subject to fluctuations and adjustments.

Price trend

In September, the domestic ABS market showed a positive trend, with spot prices of various brands increasing. According to the Commodity Market Analysis System of Business Society, as of September 30th, the average price of ABS sample products was 12000 yuan/ton, with a+10.06% increase or decrease compared to the average price level at the beginning of the month.

Cause analysis

In terms of supply: In September, the load of the ABS industry remained at a high level throughout the month, with an average monthly operating rate of around 91%, which was basically unchanged compared to the end of August. The on-site supply of goods was generally abundant. The inventory position significantly decreased in the first half of the month and accumulated slightly towards the end of the month. The supply side’s support for the spot market is still sufficient.

In terms of raw materials: Since September, the overall performance of ABS upstream three materials has been mixed, with the acrylonitrile market continuing to rise. The high price of raw material propylene is organized, and the cost of acrylonitrile is supported; The main downstream construction remains at a high level, with demand supporting acrylonitrile; The start of acrylonitrile production in September slightly decreased compared to August, with no pressure on inventory, and the acrylonitrile market continued to rise.

After the butadiene market surged in September, it tended to strengthen consolidation. The downstream synthetic rubber market has strengthened, driven by repeated price hikes by major production enterprises, while external prices have continued to rise. The market fundamentals are bullish, bringing a significant boost to the mindset of the industry. Although demand has cooled at the end of the month, there is support from overseas market news. The butadiene market fluctuates and consolidates.

The styrene market rose in September and then fell back. In the early days, devices were undergoing maintenance, and styrene inventory was low, leading to a higher market. In the middle of the year, international oil prices fell, and the pure benzene market followed suit, leading to a collapse in cost support. In addition, the low inventory levels at the port in the early stage and the favorable dual reserve situation have basically exhausted, and downstream consumption has shifted to just demand. Styrene production and sales profits have decreased, spot transactions have been poor, and there are expectations of inventory accumulation, leading to a slight decline in prices. The current market guidance is relatively short, and the market may be difficult to rise or fall.

In terms of demand: September is the traditional peak season for ABS demand, with downstream factories, including the main terminal home appliance industry, showing a significant increase in stocking enthusiasm. Combined with the Federal Reserve’s temporary interest rate hike, the macroeconomic situation is improving, and buyers have a certain upward trend, resulting in a booming market overall. But as downstream enterprises gradually complete their pre holiday stocking, the transaction situation in the latter half of the year gradually declines. In addition, the acceptance level of manufacturers has been affected by the previous increase in ABS prices, resulting in a contraction in demand at the end of the month.

Future Market Forecast

In September, the three upstream materials of ABS showed mixed ups and downs, with strong and then weak support for the cost side of ABS. The construction of petrochemical plants is at a high level, and social inventory is starting to accumulate in the latter half of the year. The peak season market on the demand side has released, and the stocking consumption at the end of the month has gradually subsided. It is expected that the ABS market may remain weak in the short term.

Price trend

The domestic PA66 market showed a positive trend in September. According to data monitoring from Business Society, the mixed benchmark price of PA66 in China was 20166.67 yuan/ton on September 30th, with a+9.40% increase or decrease compared to the price level at the beginning of the month.

Cause analysis

In September, the market price of PA66 rose, and overall, spot prices of all brands have increased. In terms of supply, the overall load of the domestic PA66 industry remained above 65% during the month, which was basically flat compared to the end of August. The production line situation of the enterprise has remained stable with minor changes. After the on-site supply of goods has been digested within a month, the overall inventory is not under pressure, and the support from suppliers is strengthening. Terminal enterprises still focus on maintaining production, with weak demand for on-site stock preparation, and moderate support for spot goods on the demand side. On the upstream side, the domestic supply of hexamethylene diamine remains tight, and the market continues to be strong. The adipic acid market rose and then fell, while the trend of raw material pure benzene gradually weakened. The cost side’s support for the PA66 market is mainly concentrated in the aspect of hexamethylene diamine. At present, the main positive guidance in the market is focused on supplier price support, and the overall price of PA66 has increased significantly.

Future Market Forecast

The spot price of PA66 strengthened in September. The price of raw materials fluctuates with each rise, providing reasonable support for the cost side of PA66. The load of PA66 enterprise is almost horizontal, the inventory position is low, and the supply support is significant. The demand side still focuses on maintaining production, and the acceptance will be affected to some extent after price increases. It is expected that PA66 will continue to operate strongly in the short term.