Sinochem New Network News ethylene glycol trend more tangled last week. The upstream raw materials are very different from the downstream market. On the one hand, upstream crude oil has shown strong performance; on the other hand, although the traditional demand for polyester is currently in peak season, market conditions do not seem to be optimistic. The production and sales rate of most polyester factories is very low, and most of them remain at around 80%, due to The price of polyester fiber products in the early stage has been declining. The overstocked inventory of manufacturers has caused serious declines in the interest in purchasing raw material ethylene glycol. The seller considered the cost of holding goods, and there was a strong interest in the price of RMB 8750 to RMB 8800/ton. The market briefly touched the price and hit bottom, and then returned to 8850 yuan/ton to find the direction.

Short-term glycol will also face negative factors. At present, the port inventories are high. The major port stocks are already close to 700,000 tons, and the capacity of the terminals is tight. At this stage, there is a backlog of factory products, and the implementation of contractual goods is the main reason. The interest in spot purchases is not high, and the enthusiasm of middlemen for speculation is also very limited. The port shipments are dull, and the follow-up problem of goods entering the tank may haunt the market at any time. In addition, with the increase in the supply of PX, ethylene-related products PTA spot market lack of cost support, the recent trend is not good; bulk commodity recent shocks, PTA** market is also relatively weak, the industry outlook mostly bearish. Taking into account the close relationship between ethylene glycol and PTA, the trend has a high degree of positive correlation, ethylene glycol will continue to be dragged down by the PTA market in the later period, and remain weak. In short, in the face of the strong upper reaches of the upper reaches, and the downstream prices have been falling, the ethylene glycol has struggled to find a direction.