The latest p-value price of ethylene glycol on May 17 was 5008.33 yuan / ton, unchanged from the previous trading day. Up 0.7% year on year.
Hungary insisted on signing the Russian oil embargo and tightening global supply. Investors took profits in the recent rebound, and oil prices fell slightly on Tuesday. Today, Meg’s external market fluctuated in a narrow range, and the negotiated price of cargo recently was around us $620 / ton. At present, the economy of ethylene glycol is poor, the operating rate has declined slightly, the cogeneration unit is mainly converted to EO, the supply side is stable as a whole, the operation of polyester in the downstream has not increased significantly, and the demand has not improved substantially. In terms of inventory, as of May 16, the total inventory of ethylene glycol in the main ports of East China was 1151100 tons, a decrease of 2100 tons or 0.18% compared with last Monday and 10500 tons or 0.9% compared with last Thursday.
Forecast: low range shock.