Ethylene glycol price bottom support strengthened
| Thiourea |
According to the data of the business community, the average price of domestic oil to ethylene glycol was 4058.33 yuan/ton on December 15, basically unchanged from the previous trading day. In terms of futures, the 24 day main contract eg2301 closed at 4101 yuan/ton, up 0.76%.
On December 15, the spot price of ethylene glycol in the East China market was basically stable, and the spot external executive price of mainstream manufacturers in East China remained 4050 yuan/ton; At the trade flow end, the spot negotiation price in Zhangjiagang market has slightly loosened. The spot negotiation price is around 4010 yuan/ton that week, and the forward spot contract is about 4020 yuan/ton in December.
On December 15, the external quotation of the mainstream ethylene glycol manufacturers in the South China market was basically flat, with the spot price of 4050 yuan/ton, and the downstream just needs to purchase mainly.
Recently, the market has stopped falling and stabilized, and the price has improved slightly, mainly based on the following factors:
1. On the news side of unplanned maintenance, the unplanned maintenance of ethylene glycol increased due to the large loss of domestic production profits. At present, the overall operating rate remains at a low level, while overseas operations are also low under the influence of poor efficiency.
2. The price of ethylene glycol dropped to a low level. At present, the price of ethylene glycol is relatively low, and the cost support is strengthened.
3. The Federal Reserve raised interest rates in line with expectations, crude oil rebounded slightly recently, and cost support was further strengthened.
The main reasons for the lack of space are:
1. The inventory has risen. There are many ships arriving at the port. According to the inventory data, there is a phenomenon of accumulation.
2. The downstream demand has entered a seasonally weakening stage. As the holiday approaches, the terminal weaving factory will reduce production and operate. The operating load of polyester is not high, and the demand for ethylene glycol is relatively low.
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