Postganglionic return of domestic glycol market shocks strong

Traditional Chinese New Year holiday, the first day after the holiday, ethylene glycol disk opened higher, the market price rose, closing on the 3rd, the East China market spot prices around 8230-8250 yuan / ton, up 230 yuan / ton; The market spot price of 8200 yuan / ton, up by 325 yuan / ton. However, due to the impact of the Spring Festival holiday, downstream polyester factory slow progress, poor production and marketing, ethylene glycol market to discuss the atmosphere was slightly dull, the transaction level was flat. Domestic enterprises, according to the HC chemical network monitoring data show that on February 3 ethylene glycol domestic enterprises factory average price of 8055 yuan / ton, up 110 yuan / ton.

  4 ethylene glycol market lack of electronic disk guide, the venue of the atmosphere once again cool, businesses wait and see the main market, the East market rose slightly to discuss the price of 8280-8290 yuan / ton, South China market to discuss the price and the previous day steady.

  Throughout the strong trend, the main positive support is the international oil prices and ethylene glycol itself fundamentals still exist. During the Spring Festival holiday, New York crude oil futures prices in the vicinity of 52-53 US dollars a barrel in the vicinity of fluctuations; Brent oil prices in the vicinity of 55-56 dollars per barrel fluctuations. Outside the disk market driven by strong crude oil have followed up, polyester industry chain also benefited from the raw material prices rose significantly, ethylene, PX and downstream extension of ethylene glycol, PTA to achieve synchronization strength.

  After the return of crude oil continued strong trend, the US WTI crude oil futures on February 3 closed up 0.29 US dollars, reported 53.83 US dollars / barrel, up 1.2% the week. Brent crude futures closed up $ 0.25 on Feb. 3 at $ 56.81 a barrel, up 1.9% in the week. Crude oil strong guidance, ethylene glycol market shocks strong.

  Before the Spring Festival glycol market fundamentals good support, good after the year still exist. It is understood that February 3 East China MEG main reservoir inventory statistics in 524,000 tons, compared with January 19 before the inventory increased by 108,500 tons, an increase of 26.11%. Of which Zhangjiagang 263,000 tons; Jiangyin 31,000 tons; Taicang 106000 tons; Ningbo 108,000 tons; Shanghai and Changzhou 16,000 tons. By the Spring Festival holiday, the port shipments decreased significantly. Although the stock has increased, but still at a low level, the supply side is still good to support the formation of ethylene glycol prices.

  In addition, the trend of raw materials ethylene market continues to rise, 3 Asian ethylene closed up, boosting the cost of ethylene glycol, short-term ethylene bullish sentiment is strong.

  Downstream, the postganglionic polyester factory has not yet all the work, the current load of about 72.66%, production and marketing performance in general, the demand for follow-up, but the latter is expected to increase, the demand side will gradually increase.

In summary, is expected to short-term ethylene glycol market shocks trend, the latter need to pay attention to the trend of international crude oil, Asian ethylene market, the fundamentals of the port inventory, downstream demand, equipment maintenance and related products PTA market trends.