Ethylene glycol prices hit a new high
since May, ethylene glycol prices in East China have rebounded from the bottom. This week, the market reference price was 8000 ~ 8100 yuan (ton price, the same below), up another 400 yuan from last week, hitting a recent high. It is expected that the market will still rise slightly in the future
due to the shrinking trading volume, the East China ethylene glycol market has been reorganized for 8 weeks around 7400 yuan, and once fell back to 7000 yuan. Later, with the intervention of buying, the price of ethylene glycol slowly rebounded, and the market reference price was 8100 yuan on August 4, up 1100 yuan from the end of June
the main reasons for the recent rebound of ethylene glycol prices are as follows: first, the price fell significantly in the first half of this year, which requires a rebound in technology and a return in value; Second, in the early stage, under the influence of the sharp decline in the prices of textile industry and polyester products, some manufacturers reduced the operating rate to avoid market risks. In addition, some domestic manufacturers adjusted the product structure of ethylene glycol and ethylene oxide combined production units, reducing the output of ethylene glycol, resulting in a rapid decline in social inventory; Third, the rising trend of crude oil and naphtha, as well as the sharp rise in the import price of ethylene glycol in Southeast Asia, supported the market; Fourth, the manufacturers suffered large losses. Szycher and others reported a new polyurethane (a PCU) with strong upward sentiment
in the future, the prices of crude oil and naphtha are relatively high recently, and the production cost of ethylene glycol continues to increase, which will support its higher price. According to I2 Select gear (this experimental machine is divided into three grades according to the standard. HS chemistry predicts that the demand growth rate of ethylene glycol in the polyester industry will return to the level of 6% in 2013. This year, the capacity expansion of ethylene glycol is relatively low, and the market supply will decline, which will also form a certain support for the domestic market.
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