The price of ethylene glycol began to loosen in April

The price of ethylene glycol was weak in April. According to data from Business Society, as of April 26th, the average price of domestic oil to ethylene glycol was 4490 yuan/ton, a decrease of 0.52% compared to the average price of 4513.33 yuan/ton in the East China market on April 1st. The prices for each region are as follows:

The price range for spot goods executed by mainstream manufacturers in East China is between 4400-4630 yuan/ton; The spot price of ethylene glycol in the South China market is 4400 yuan/ton, while the mainstream manufacturers in Central China have a spot price range of 4350 yuan/ton for external execution; The mainstream manufacturers in North China offer a spot price of 4500 yuan/ton for external transactions.

Cost support narrows the downward space for ethylene glycol

Since March, the market has started trading overseas devices and there has been news of a restart, coupled with a shift in port inventory from obvious destocking in the early stage to platform volatility, causing market prices to move downwards.

However, based on cost considerations, the current raw material prices are relatively high, with high costs. The profit of the ethylene glycol factory is in the low range of the year, and the willingness to restart the factory’s maintenance equipment is low. It is expected that there will be little pressure on the supply side in the short term, and cost support will gradually strengthen. It is expected that the probability of ethylene glycol prices entering a narrow range of fluctuations will increase in the short term.