The price of ethylene glycol fluctuated in late May

This week, the price of ethylene glycol fluctuated after stabilizing and rebounding last week. According to data from Business Society, as of May 31, the average price of domestic oil to ethylene glycol was 4526.67 yuan/ton, which is 0.3% higher than the average price of 4513.33 yuan/ton in the East China market on May 24. The prices for each region are as follows:

The price range for spot goods executed by mainstream manufacturers in East China is 4450-4580 yuan/ton; The spot price of ethylene glycol in the South China market is 4450 yuan/ton, while the mainstream manufacturers in Central China have a spot price range of 4250 yuan/ton for external execution; The mainstream manufacturers in North China offer a spot price of 4500 yuan/ton for external transactions.

Positive inventory vs weak demand

In late May, the landed price of imported ethylene glycol from overseas slightly increased, and currently the port inventory is still in a state of destocking. As of May 30th, the inventory of ethylene glycol in the main port of East China was 725100 tons, which is 869100 tons compared to the inventory on April 29th, and 144000 tons have been destocked.

In May, the price of ethylene glycol began to stabilize, mainly due to changes in the news. Overseas production in the Middle East and North America has decreased, supply has contracted, and port forecasts have decreased, breaking previous expectations for import growth; Another reason for the decline in port inventory is due to the previous consumption of hidden inventory, which has accelerated port shipments recently and has begun to shift towards consumption of explicit inventory.

In terms of downstream actual demand, the polyester sector has recently seen a decline in operating rates. On the one hand, due to the downward shift in profits in the polyester industry, some categories have incurred losses, and factories have a weak willingness to operate.