1、 Price trend
On June 12, the average ex factory price of oil-based glycol in North China was 3750 yuan / ton, the same as last week, according to the data of business agency.
On June 11, the market price of ethylene glycol in East China was 3555 yuan / ton, down 70 yuan / ton, or 1.93% from last Friday.
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2、 Analysis of influencing factors
As of June 11, the ethylene glycol inventory in the main reservoir area of East China was about 1.386 million tons, a decrease of 3900 tons or 0.3% compared with last Thursday, an increase of 7600 tons or 0.58% compared with Monday. Stocks are still high, although the gains and losses are small.
In terms of shipment, this week, the main port of Zhangjiagang delivered about 5400 tons per day, and Taicang delivered about 9600 tons per day to the two warehouses. Although the delivery has improved, it is still on the low side.
At present, the operating rate of glycol is about 56%, and that of polyester downstream is about 88%. Although the polyester end operating rate is acceptable, but the traditional off-season of textile industry is coming, polyester demand is facing weakening.
In terms of units, the ethylene glycol unit with an annual output of 400000 tons of Inner Mongolia Rongxin Chemical Co., Ltd. began to produce products on June 6, and the current daily output is about 800 tons. The device was temporarily shut down for maintenance. The 300000 ton glycol unit of Guizhou Qianxi Coal Chemical Co., Ltd. has been shut down for maintenance since the middle of April, and it has gradually returned to normal, and its output is slowly increasing. The current load is about 30%..
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Futures, international oil prices plummeted on the 11th, coupled with inventory pressure, glycol futures prices continued to decline after a limited return.
3、 Analysis and prediction
According to the source, the reason why the inventory changes little in this period is that the storage capacity is nearly saturated, and the capacity of domestic oil-based and coal-based glycol production will return one after another in the later period. Since the development of global public health events, the demand for textile export has been in a low level. It is expected that the price of ethylene glycol will not be able to increase significantly in the short term.
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