1、 Price trend
According to the data of business agency, on May 22, the average ex factory price of oil-based glycol in North China was 3683 yuan / ton, up 67 yuan / ton or 1.84% from last week.
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On May 22, the price of large single can of ethylene glycol in East China was 3535 yuan / ton, down 10 yuan / ton from last Friday and 85 yuan / ton from yesterday, down 2.35%.
2、 Analysis of influencing factors
As of May 21, the glycol inventory in the main reservoir area of East China was about 1.262 million tons, an increase of 25500 tons or 2.06% compared with last Thursday, and an increase of 4700 tons or 0.37% compared with this Monday. Inventory is at a high level and inventory accumulation is slowing down.
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At present, the operating rate of ethylene glycol is about 53%, and that of polyester downstream is about 86%, which is higher than that of last week.
In terms of equipment, Hengli (Dalian) MEG line 2 was restarted on the evening of 16th, and the existing products were out of the furnace. At present, the load is gradually increasing.
3、 Analysis and prediction
At the beginning of this week, the price of glycol continued the upward trend of last week due to the recovery of crude oil price volatility. However, due to the continuous rise in inventory and insufficient terminal demand, the spot price of glycol futures fell at the weekend. It is expected that in the next week, if demand does not improve significantly, glycol prices will return to a volatile pattern.
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