Stable operation of ethylene glycol in November

According to data from Business News Agency, on November 10th, the average price of domestic oil to ethylene glycol was 4141.67 yuan/ton, an increase of 0.28% 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 4000-4350 yuan/ton; The spot price of ethylene glycol in the South China market is 4000 yuan/ton, while the mainstream manufacturers in Central China have a spot price range of 4000 yuan/ton; The spot price for mainstream manufacturers in North China is 4350 yuan/ton.

On November 9th, the CIF price of ethylene glycol in China was 479 US dollars/ton; The CIF Southeast Asia price is 478 US dollars/ton.

Ethylene glycol fundamentals

Downstream demand

The downstream polyester production load is relatively stable, and downstream demand remains stable. The polyester factory load is maintained around 88%, and in terms of terminals, the operating load of the loom is 80%, with a negative 1% decrease in the circumferential ratio. The operating load of the elastic loom is 89%, and the circumferential ratio remains unchanged.

High port inventory

As of November 9, 2023, the total spot inventory of ethylene glycol in the main port of East China was 1.1583 million tons, which is still relatively high compared to the total spot inventory of ethylene glycol in the main port of East China on October 30, 1.143 million tons, with a cumulative inventory of 15300 tons.

Future market forecast

The reality of ethylene glycol supply and demand is loose, with high inventory, suppressing price increases. Currently, prices are low, and cost support is strong. It is expected that the probability of maintaining a volatile sideways trend in the short term will increase. The volatile range in November may slightly move up.