The center of gravity of ethylene glycol continued to fall, fluctuating within a narrow range during the week, with a slight upturn in late trading, and the electronic market began to pick up. Last week, international oil prices ended their early sustained upward momentum, and crude oil fell sharply from its highs. In terms of crude oil market news, there are no major changes compared with the previous period. Although the completion of the production reduction agreement is still positive, the supply and demand relationship has not changed significantly. The downstream ethylene derivatives market was weak and fell, but the supply of ethylene was slightly tight, with long and short positions intertwined.
On April 21st, Tianjin Daxing Chemical Trading Co., Ltd.’s ethylene glycol premium product was sold for 5,990 yuan including tax on the vehicle. It is industrial grade 98% ethylene glycol and the vehicle is free of charge. The water price after tax is 4,300 yuan. The content is 91%, colorless and slightly odorless, and the whole vehicle is 3,300 yuan tax-free. Tianjin Daxing Chemical Trading Co., Ltd.’s high-grade ethylene glycol products are priced at 5,990 yuan including tax for the entire vehicle, industrial grade 98% ethylene glycol, and the vehicle’s tax-free clean water price is 4,300 yuan. The content is 91%, colorless and slightly odorless, and the whole vehicle is 3,300 yuan tax-free. The Beijing Branch of Sinopec Marketing Company has stabilized its quotation for ethylene glycol. Yanshan Petrochemical and Tianjin Petrochemical have basically no external sales of ethylene glycol. They mainly supply Tianjin chemical fiber to each other. The current spot price of ethylene glycol is reported at 6,000 yuan/ton.
On April 24, Tianjin Daxing Chemical Trading Co., Ltd.’s ethylene glycol premium product was sold for 5,990 yuan including tax on the whole vehicle. It is industrial grade 98% ethylene glycol. The whole vehicle is free of charge. The water price after tax is 4,300 yuan. The content is 91%, colorless and slightly odorless, and the whole vehicle is 3,300 yuan tax-free. The spot price of ethylene glycol of Sinopec East China Sales Branch has stabilized. The current spot price is 5,900 yuan/ton, and its subsidiaries Yangzi, Yangba, Shanghai, and Zhenhai Refining and Chemicals all execute the price. The Beijing Branch of Sinopec Marketing Company has stabilized its quotation for ethylene glycol. Yanshan Petrochemical and Tianjin Petrochemical have basically no external sales of ethylene glycol. They mainly supply Tianjin chemical fiber to each other. The current spot price of ethylene glycol is reported at 6,000 yuan/ton. Jilin Petrochemical’s ethylene glycol price has stabilized and is currently priced at 6,150 yuan/ton locally.
With the recent decline in oil prices, good news about upstream energy has been diluted, and the atmosphere for ethylene glycol is bearish. In late April, futures entered the delivery period, and there was partial backfilling in spot prices. Spot transactions were more active than futures. As downstream demand improved, the market ended well in late trading. Short-term crude oil continued to fall, while Asian ethylene maintained a narrow upward trend. Cost pressure on ethylene glycol increased, and domestic port inventories were generally digested, maintaining more than 600,000 tons in this cycle. The ethylene glycol market is expected to fluctuate and consolidate.
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