Ethylene glycol price stopped falling and stabilized in December
| POLYVINYL ALCOHOL |
According to the data of the business society, the average price of domestic oil to glycol was 4050 yuan/ton on December 30, up 1.89% from the market average price of 3975 yuan/ton at the beginning of the month (12.1).
On December 30, the spot price of ethylene glycol in the East China market was basically stable, and the external implementation price range of spot prices of mainstream manufacturers in East China was 3900-4110 yuan/ton; The spot price of ethylene glycol in South China market was basically stable, and the spot price range of mainstream manufacturers in South China was 4050 yuan/ton; The spot price of ethylene glycol in North China market was basically stable, and the spot external executive price of mainstream manufacturers in North China remained 4050 yuan/ton; The price of industrial ethylene glycol of some manufacturers in central China is relatively low, at 3850 yuan/ton.
The domestic supply of ethylene glycol was relatively loose in December:
As of December 29, the overall starting load of domestic ethylene glycol was 62.87% (up 3.73% from the previous period), The start-up load of coal to ethylene glycol is 49.00% (An increase of 7.37% over the previous period. According to the unit data, a new unit was put into operation in December, and the domestic supply pressure of ethylene glycol gradually increased. The 300000 ton unit of Tongliao Jinmei has recently been put into operation and restarted, and the unit was shut down in early December; the 300000 ton unit of Shanxi Meijin was shut down in the early stage for some reason, and has been restarted in the middle and late December, and is currently operating at half load; the 300000 ton unit of Shanxi Woneng has been restarted recently, and the load is gradually increasing, and the unit was shut down in late October ； The 800000t/a EO/EG new unit of Hainan Refining&Chemical is planned to be put into production at the end of December; A new set of 1 million ton/year MEG unit in Lianyungang was started on December 3, with the current load of about 80%. In terms of shutdown, on December 7, the 300000 ton unit of Yangzi Petrochemical stopped due to upstream unit failure, and the restart time is to be determined.
Overseas, the shutdown of the 700000 ton ethylene glycol unit of Lotte in the United States is expected to restart next week, so the shutdown loss of ethylene glycol caused by the cold wave in North America is small.
In December, the inventory of the main ports in East China rose and then fell back
In December, the port inventory rebounded. The MEG port inventory in the main port area of East China reached a monthly high of 980000 tons. On the 29th, the MEG port inventory in the main port area of East China was 881000 tons, still higher than that in November. At the end of the month, due to the weather, the arrival of ethylene glycol at the port decreased, and the port inventory was still in storage.
Poor terminal demand
Public health factors are superimposed on the approaching holiday, and the terminal weaving factory has reduced production. As of December 29, the average number of days of terminal weaving orders was 11.33 days, 2.00 days less than last week. The operating load of polyester is not high, and the demand for ethylene glycol may be relatively low. At present, the operating load of polyester is reduced to a low level. Recently, the short-term terminal factory is seriously short of work, and the starting load of the weaving industry has dropped significantly again.
Future market forecast
As a whole, ethylene glycol is still in the stage of strong supply and weak demand. At present, the price is low, and the cost impact factors are expanding. It is expected that the price of ethylene glycol may rebound in the short term, but it will return to a weak and volatile trend in the medium and long term.
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