1、 Price trend

According to business agency data, on July 31, the average ex factory price of oil to ethylene glycol in North China was 3667 yuan / ton, up 67 yuan / ton or 1.85% over last week.

On July 30, the market price of ethylene glycol in East China was 3633 yuan / ton, up 68 yuan / ton or 1.91% over the same period last week.

2、 Analysis of influencing factors

As of July 30, the total ethylene glycol inventory in the main ports of East China was 1.3794 million tons, a decrease of 32600 tons or 2.31% compared with last Thursday, and a decrease of 10900 tons or 0.78% compared with Monday.

In terms of shipment, Zhangjiagang and Taicang fell this week compared with last week.

At present, the operating rate of ethylene glycol is about 50%, and that of polyester is about 87%, which is slightly lower than that of last week.

In terms of equipment, the ethylene glycol plant with an annual output of 600000 tons of Xinjiang Tianye will be put into operation tomorrow with 200000 tons, and it is expected to see products in early August; the ethylene glycol unit with an annual output of 300000 tons of Zhongyan hongsifang has been reduced to 50% due to failure, which is expected to last until the end of this week.

3、 Analysis and prediction

Ethylene glycol inventory has decreased this week, but from the perspective of shipment, the reason for the decline is not due to smooth sales, but the delay in shipping. Due to the overseas epidemic situation did not appear inflection point, ethylene glycol terminal market is poor, downstream polyester inventory pressure is huge. At the same time, domestic supply side pressure brought by new capacity. Although the maintenance plan of overseas units is increasing in the near future, there will be no shortage of supply in the near future. Therefore, in the absence of long-term good conditions, glycol prices will continue to adjust low.