Price Trend

According to data from business associations, the average listing price of ethylene glycol in North China on April 19 was 4850 yuan/ton, down 2.02% from the previous cycle, and then a new low.

Domestic spot market prices continued to fall slightly this week. The mainstream price of ethylene glycol in eastern China has dropped to around 4615 yuan/ton, while that in southern China has remained around 4600 yuan/ton.

II. Analysis of Influencing Factors

So far this week, the domestic oil-based ethylene glycol start-up rate is about 81%, coal-based ethylene glycol start-up rate is about 72%, enterprise supply is sufficient.

As of Wednesday, ethylene glycol stocks in East China’s main ports were about 1.284 million tons, down from the previous year.

3. Future Market Forecast

Ethylene glycol analysts at business associations predict that the oil-to-ethylene glycol project is in a loss position as the market price of ethylene glycol falls all the way. Affected by cost pressures, ethylene glycol manufacturers may reduce supply later. However, due to the slow de-inventory progress of the port, the current low price may continue to be maintained.