1、 Price trend
According to business agency data, on August 7, the average ex factory price of oil to ethylene glycol in North China was 3700 yuan / ton, up 33 yuan / ton or 0.94% over last week.
On August 6, the market price of ethylene glycol in East China was 3725 yuan / ton, up 92 yuan / ton or 2.53% over the same period last week.
2、 Analysis of influencing factors
As of August 6, the total ethylene glycol inventory in the main ports of East China was 1.37 million tons, 9400 tons less than last Thursday, a decrease of 0.68%, and a decrease of 14500 tons, or 1.05%, compared with Monday.
In terms of shipment, the average daily shipment volume of Zhangjiagang and Taicang this week is at a low level.
At present, the operating rate of ethylene glycol is about 47%, which is about 3% lower than that of last week; the operating rate of polyester is about 88%, which is not different from last week.
In terms of units, the ethylene glycol unit with an annual output of 360000 tons of Xinhang energy was put into maintenance on July 25, which is expected to be maintained for about 25 days; the 450000 ton unit of Far East Union will be restarted, and the subsequent operation rate will be increased.
3、 Analysis and prediction
Ethylene glycol inventory decreased slightly for two consecutive weeks. Although it was not caused by smooth shipment, it also improved market confidence to a certain extent. In recent years, overseas enterprises have carried out more equipment maintenance, and domestic coal-based plants are also at a low operating rate, resulting in the expected reduction in supply, which also has a supporting effect on the price. In addition, according to statistics, this week the loom operating rate increased by 3.16%, indicating that the terminal is slowly recovering. Therefore, if the inventory does not rise any more, although the demand will not improve greatly in the short term, the situation of ethylene glycol market may be improved.