1、 Price trend

Ethylene glycol prices fluctuated in the low range this month. According to the data of business agency, on May 27, the average p value of oil based ethylene glycol was 4966.67 yuan / ton, down 41.66 yuan / ton compared with the previous statistical cycle.

2、 Analysis of influencing factors

In terms of cost, the crude oil market is constrained by many factors. On the one hand, the expectation of tight global oil supply and rising demand has boosted the oil market. On the other hand, the market is still worried that the economic recession and high oil prices will curb oil demand. Brent crude oil futures fluctuated broadly around $110 / barrel in the month.

However, the operating rate of ethylene glycol decreased slightly within the month. At present, eg is economically poor. The cogeneration unit tends to EO Production, and the manufacturers mainly supply contract goods. The port inventory is still at a high level. As of May 26, the total inventory of ethylene glycol at the main port in East China was 1184500 tons. The port shipment was poor, the spot supply was still sufficient, the domestic epidemic spread at many points, the logistics transportation and demand improvement process was blocked, and the downstream manufacturers were careful to stock up.

3、 Forecast: the double weak situation of ethylene glycol supply and demand is difficult to change, and the undervalued market will continue.