The weekly price of ethylene oxide was slightly increased by 200 yuan / ton. At present, the national unified ex factory price is 7550 yuan / ton.

In the upstream, crude oil futures fell sharply, Asian light distillate spot prices fluctuated, naphtha prices rebounded, and Asian ethylene prices fell. At present, the cost performance of imported ethylene is better than that of domestic ethylene. The latest price of ethylene in Northeast Asia is 980 US dollars / ton, that in Southeast Asia is 1100 US dollars / ton, that of Jinshan Lianmao ethylene today is 8100 yuan / ton, which is the same as that of the previous trading day, and that of Luxi Chemical ethylene today is 8050 yuan / ton, which is 200 yuan / ton lower than that of the previous trading day. As of the closing on June 23, the spot price difference between ethylene and naphtha in Northeast Asia was $185.5/t, down nearly $23.625/t compared with the previous trading day, far below the break even price difference.

Due to the fire in Shanghai Petrochemical, the price of ethylene oxide rose sharply during the week. At present, the ex factory price has been raised to the profit and loss line. In the same period, the price of ethylene glycol, a related product, plunged. The economy of ethylene oxide has been better than that of ethylene glycol. In terms of devices, the Sinopec refining and chemical plant was shut down for maintenance on the 23rd, and the maintenance is expected to last about 15 days. Shanghai Petrochemical stopped unexpectedly, and Shanghai has started a comprehensive inspection because of this. The restart time of the device is unknown. The Far East unit is expected to restart in early July. At present, the supply of ethylene oxide in other regions is normal except for the tightening of the supply in Shanghai and South China.

This correction of ethylene oxide is like a shot in the arm to the downstream market. Affected by the mentality of buying up but not buying down, the goods of ethylene oxide dealers have increased significantly, the mentality of downstream merchants is improving, and the monomer price is slightly corrected. However, in essence, the demand side of the single market is still limited by factors such as summer high temperature and Meiyu weather. There is still uncertainty in the long term and the long term. Market participants are cautious to wait and see. Downstream manufacturers had strong bargaining sentiment and entered the market on bargain hunting.

Forecast: under the long short game, the market rumored that ethylene oxide might increase its expectation in the later period. However, from the current fundamentals, the overall room for ethylene oxide to rise is limited.