Ethylene glycol prices fell by 1.92% in March
The price of ethylene glycol was weak in March. According to data from Business Society, as of March 29th, the average price of domestic oil to ethylene glycol was 4516.67 yuan/ton, a decrease of 1.92% from the average price of 4605 yuan/ton in the East China market on March 1st. The prices for each region are as follows:
The price range for spot goods executed by mainstream manufacturers in East China is between 4500-4730 yuan/ton; The spot price of ethylene glycol in the South China market is 4500 yuan/ton, while the mainstream spot manufacturers in Central China have a price range of 4500 yuan/ton for external execution; The mainstream manufacturers in North China offer a spot price of 4500 yuan/ton for external transactions.
The price of ethylene glycol in April may continue to fluctuate weakly
The price of ethylene glycol in April may continue to fluctuate weakly, for the following reasons:
1. The supply side game intensifies. There is an expected contraction in domestic ethylene glycol supply in April. The supply side is expected to concentrate on delivering 2.55 million tons of maintenance equipment from the end of March to April; In terms of overseas imports, due to the favorable price difference between domestic and international markets, the number of arrivals to ports has increased. The market expects that the import of ethylene glycol will increase to 500000/55000 tons respectively from March to April. In early April, the import volume decreased month on month, but the total supply decreased month on month, and the overall supply remained relatively high in absolute terms.
2. In March, the inventory of ethylene glycol at the port began to shift from the previous state of destocking to accumulation, and in April, the inventory of ethylene glycol at the port may continue to accumulate. The market expects that in terms of overseas imports, due to the favorable price difference between domestic and foreign markets, there will be an increase in port arrivals. The market expects that the import of ethylene glycol will increase to 500000/55000 tons respectively from March to April. As of March 28th, the inventory of ethylene glycol in the main port of East China was 839000 tons, an increase of 33600 tons compared to 805400 tons on March 21st; Compared to the low point in March (March 7th), the total spot inventory of ethylene glycol in the main port of East China was 702100 tons, with an increase of 136900 tons in inventory.
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