The continued depreciation of the RMB is expected to reduce imports of ethylene glycol
24, the central parity of RMB devaluation of 132 points to 6.7690, refresh the lowest level in 6 years. Due to the U.S. economic recovery form better, leading to enhanced the overall trend of dollar, depreciation of the RMB is still some expected. Due to the continued depreciation of the RMB, the importer operation regression cautious market expectations or will reduce imports. The factors and the price conduction, external bulk overall performance strong, businesses are optimistic about the market outlook of ethylene glycol.
Ethylene glycol futures listed businesses, actively preparing for the
In mid October China Commission approved the Dalian commodity exchange futures of ethylene glycol project application, this means that the ethylene glycol from futures officially listed for trading is a step closer. In order to ensure a greater initiative in the futures market, the mainstream of glycol traders getting goods enthusiasm increased sharply, leading to the recent ethylene glycol market trading atmosphere.
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Good profitability of the downstream polyester, receiving ability
The terminal weaving the recent good performance, the devaluation of the renminbi to trade orders increased, while the domestic double 11 stocking was driven by the downstream polyester sales good. According to the statistical information of treasure island, the various specifications of polyester filament market prices firm, “profit” have gone all the way, one of the most profitable FDY in 600 yuan / ton, the worst POY in 250 yuan / ton, DTY profit 400 yuan / ton. To enhance the profitability of the polyester, the formation of effective support for the price of raw material of ethylene glycol.
Overall, although the crude oil are still large uncertainties, but the domestic ethylene glycol has successfully exceeded 5500 yuan / ton mark integer, with the continuous depreciation of the RMB is expected to reduce imports, deposit. In addition, the polyester profit is acceptable, and the strong performance of the overall market is still in the periphery, a certain increase in space.
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