1、 Price trend

 

According to the data of business agency, the ex factory price of oil glycol in North China was stable this week. On February 21, the average ex factory price of oil to glycol in North China was 4500 yuan / ton, the same as last week.

 

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At the beginning of this week, the price of large-scale single can of ethylene glycol in East China was 4335 yuan / ton. On Friday, the price was 4435 yuan / ton, up 100 yuan / ton, up 2.31%.

 

2、 Analysis of influencing factors

 

As of February 20, the total operating rate of ethylene glycol in China was 68.06%, down 1.89% from last week, slightly down.

 

In terms of shipment, the shipment in the main reservoir area of East China continued to be on the low side, with a total shipment volume of 36300 tons from last Friday to this Thursday.

 

As of February 20, the glycol inventory in the main reservoir area of East China was about 578500 tons, a decrease of 42500 tons or 6.84% compared with last Thursday, an increase of 23100 tons or 4.16% compared with this Monday..

 

In the downstream, the polyester operation rate is 58.85%, similar to that of last week, and the weaving end operation rate has increased significantly.

 

3、 Analysis and prediction

 

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Although the glycol market is still depressed this week, it has improved significantly compared with last week. The factory price of enterprises has been raised, and the market price has also risen in a small range. The continuous increase of international oil price and the gradual increase of terminal weaving operation rate have provided certain support for the price of glycol.

 

However, due to the fact that the polyester end operating rate has been kept at a relatively low level, and the early arrival of cargo delayed by the closure of the Yangtze River channel, the expected increase in the accumulated storage has put pressure on the price.

 

Therefore, it is expected that the price of glycol will pick up in the short term, but in the long term, attention should be paid to the downstream production capacity.

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