last week, ethylene glycol market trend xianyihouyang. By the early supply side policy guidelines, commodity strong performance, ethylene glycol market is a rising market talks in Fujian rose to 6450 yuan / ton. Then (November 7-11 11) on Friday when the futures market suffered black Friday, most commodities were slaughtered, all products were dropped, ethylene glycol market also lower pressure, early last week electronic disk is experiencing daily limit, and China to discuss the market dropped back to 5 prefix, the stock market fell to 5950 yuan / ton to discuss about. But later in the week a strong stance in ethylene glycol regression fundamentals support always stable, and driven by the continued depreciation of the RMB funds and energy to do more obvious, glycol homeopathic uplink. As of Friday the East China market fell after the rebound spot talks at around 6250 yuan / ton.
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The ethylene glycol market reversal is mainly affected by the peripheral news and market psychology guidance for how the trend of late, we made the following analysis:
Fundamentals, since the four quarter because of Iran and Taiwan imported cargo reduce imports decline, coupled with improved demand makes the port inventory decline, the contradiction between supply and demand supply gap caused by the ethylene glycol market become the strongest support. According to relevant statistics, as of last week four main reservoir inventory statistics in East China MEG 469 thousand tons, compared with the previous week to reduce inventory 5 thousand tons, a decline of 1.05%, ethylene glycol inventory is still below 500 thousand tons level. Device, domestic factories started as a whole load steady slight increase, but the overall increase is not yet fully reflected; and the quality of ethylene glycol on construction is still in a low state, new manufacturers in the commissioning stage, the short term is still not enough to fill the domestic market for the supply of goods, should be more nervous than expected. While on the demand side, the international crude oil prices, polyester PTA futures ferocious rally, spot market focus and raw materials prices rose, MEG, cost pressures, the downstream polyester products passive follow up, and cash flow is to enlarge the situation. At present, the overall operating performance of polyester load steady, just need to support stability, while the short-term polyester just need little probability the operating load of a significant decline in the short term, glycol fundamentals remain solid.
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