The price of ethylene glycol rose in January

The price of ethylene glycol increased in January. According to data from Business Society, as of January 8th, the average price of domestic oil to ethylene glycol was 4406.67 yuan/ton, an increase of 2.30% from the beginning of the month. Prices in various regions are as follows:

The price range for spot goods executed by mainstream manufacturers in East China is between 4400-4550 yuan/ton; The spot price of ethylene glycol in the South China market is 4350 yuan/ton, and the price range for mainstream manufacturers in Central China is 4400 yuan/ton; The mainstream manufacturers in North China offer a spot price of 4500 yuan/ton for external transactions.

Review of ethylene glycol market

Expectations on the news side are leading the recent upward trend in ethylene glycol prices. At the end of last month, after some parking reports were falsified, prices rebounded. This month, market sentiment once again focused on the expectation of import volume contraction. Last Friday, futures prices rose sharply, and spot prices followed suit. At present, downstream investors are relatively cautious about high priced ethylene glycol, with increased wait-and-see sentiment and average trading volume.

Expected future market for ethylene glycol

The main variables currently affecting the price of ethylene glycol are whether the implementation of import volume reduction has been realized, and whether the underlying cost support brought about by crude oil and coal prices will shift.

The supply and demand fundamentals of ethylene glycol are still in a weak state, and the reality of high inventory suppresses the upward space of prices. Currently, prices have shown significant upward momentum, and in the future, we will focus on the negative feedback effect of terminal demand variables on raw materials. It is expected that ethylene glycol prices will mainly fluctuate in the short term.