In May, the price of ethylene glycol first fell and then rose
The price of ethylene glycol was weak in June. According to data from Business Society, as of June 20th, the average price of domestic oil to ethylene glycol was 4526.67 yuan/ton, a decrease of 0.94% compared to the average price of 4484.17 yuan/ton in the East China market on June 1st. The prices for each region are as follows:
The price range for spot goods executed by mainstream manufacturers in East China is between 4400-4800 yuan/ton; The spot price of ethylene glycol in the South China market is 4450 yuan/ton, and the price range for mainstream manufacturers in Central China is 4300 yuan/ton; The mainstream manufacturers in North China offer a spot price of 4500 yuan/ton for external transactions.
On June 20, 2024, the mainstream inventory basis price of ethylene glycol was between -33 and -30, and the futures market price rose. The basis price in East China slightly increased during the day, but showed a strengthening trend in the afternoon. The closing price rose to -29 to -25. At present, the basis of forward contracts remains in a near low and far high pattern. At present, the spot price of ethylene glycol at the port is between 4460-4475 yuan/ton.
Port inventory fluctuated horizontally in June
In June, the port inventory showed a sideways fluctuation with a slight increase. As of June 20th, the inventory of ethylene glycol in the main port of East China was 749600 tons, an increase of 24500 tons compared to the inventory of 725100 tons on May 30th.
In June, ethylene glycol or oscillating operation will be the main focus
The focus of the ethylene glycol game in June is on downstream polyester demand and supply side variables. In the short term, it is expected that ethylene glycol will mainly operate in a volatile manner in June.
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