Overview of ethylene glycol market
| POLYVINYL ALCOHOL |
Ethylene glycol prices fell in March. According to data from Business News Agency, on March 29, the average price of domestic oil based ethylene glycol was 4130 yuan/ton, a decrease of 4.14% compared to the average market price of 4308.33 yuan/ton at the beginning of the month.
On March 29, the spot price of ethylene glycol in the East China market was as follows: the spot price range for mainstream manufacturers in East China was between 4000 and 4315 yuan/ton; The spot price of ethylene glycol in the South China market is 4150 yuan/ton, while the spot price range for mainstream manufacturers in Central China is 4050 yuan/ton; The spot price of ethylene glycol in the North China market is basically stable, and the spot price of mainstream manufacturers in North China is 4200 yuan/ton.
Ethylene glycol inventory remains high
| PVA 0588 ( PVA BP05) |
As of March 27, the inventory of ethylene glycol in East China main port was 1.0269 million tons, compared to 1.0698 million tons of ethylene glycol in East China main port on March 2, and 42900 tons of ethylene glycol were removed from the warehouse. On March 10, 2022, the inventory of ethylene glycol in East China main port was 950700 tons. Inventory is currently relatively high.
International CIF prices slightly increased
On March 28th, the CIF price of ethylene glycol in China was 510 US dollars/ton, with a month-on-month increase of 7 US dollars/ton; The CIF Southeast Asia price is 508 US dollars/ton.
There is expected to be a conversion in the second quarter
In May, devices such as Satellite Petrochemical, Hengli Petrochemical, and Zhejiang Petrochemical are all planned to be converted to EO.
Downstream space narrows in the future
Currently, the average spot price of ethylene glycol is within a relatively low range in history, but ethylene glycol supply pressure remains in the short term. In terms of demand, the start of terminal looms has weakened slightly, and some polyester factories have production reduction plans, suppressing the upward trend in ethylene glycol prices; However, ethylene glycol is at a negative profit level, with cost side impact factors expanding and downward space narrowing. In the medium term, as the scale of device maintenance increases, there is expected to be a contraction in supply, while the expectation of weak supply and good demand in the long term remains unchanged. It is expected that in the short term, the probability of sideways shocks in the future market of ethylene glycol will increase, and the average price operating band will be around 3950-4200 yuan/ton.
| http://www.polyvinylalcohols.com |