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    Good Short-Term, But No Real Support For Epiphyllum

    2020/8/4 13:02:00 0

    Glycol

    Recently, the domestic ethylene glycol market continued to strengthen As of July 31, The spot price of ethylene glycol in East China closed at 3673 yuan / ton, up 183 yuan / ton or + 5.24% over June 30. Can ethylene glycol in the low price area continue to rise? The answer is no, see the reason display.

    one Domestic ethylene glycol supply

    According to Longzhong information statistics, in July, the average domestic ethylene glycol operating load was about 51.14%, and the monthly output was about 665600 tons, with a month on month ratio of - 1.22%. Among them, the starting load of non coal to ethylene glycol is about 59.67%, and the monthly output is about 50500 tons, with a month on month ratio of - 0.99%; the starting load of coal to ethylene glycol is about 35.68%, and the monthly output is about 165100 tons, with a month on month ratio of - 1.9%.

    According to the above data, the overall supply of ethylene glycol in China has been maintained at a low level, and there is no room for reduction. With the rise of market price, maintenance enterprises have plans to resume work. Therefore, the supply of enterprises in production will only increase in the later period, but will not decrease.

    two Inventory of main ports in East China remained high

    Longzhong information statistics, as of July 30, The ethylene glycol port inventory in the main port area of East China is about 1.3794 million tons. In detail, Zhangjiagang 787400 tons, Taicang 147000 tons, Ningbo 164000 tons; Shanghai and Changshu 171000 tons; Jiangyin and Changzhou 110000 tons.

    Under the influence of global public health events, foreign demand is not good, and a large number of imported resources have an impact on China. At present, the storage capacity of the main port is tight, and there are different degrees of stagnation. The downstream polyester factory has high raw material inventory and limited transfer capacity. In addition, according to the tracking situation of imported goods, although the recent foreign devices have released maintenance expectations, they are all in the long term, which has limited positive support for the short-term market. Therefore, it is still far from expected to go to the warehouse.

    three The downstream polyester production and sales are poor, and the demand is mainly rigid demand

    In hot summer, the terminal has entered the traditional consumption off-season. In addition, under the influence of public health events, the terminal export orders are not in good condition, the recovery period is still slow, the accumulation rate of stock is continuously higher than the speed of stock removal, and some varieties are in serious deficit. Further price reduction of polyester end is not expected to be expected, which also inhibits the enthusiasm of downstream procurement, mainly rigid demand.

    four There are many new units planned to be put into operation recently

    two thousand and twenty Statistics of new capacity of domestic ethylene glycol plant in the second half of




    Name of enterprise

    capacity

    Expected production time

    Sinochem Quanzhou petrochemical

    fifty

    August 2020 (postponed to September)

    Zhongke (Guangdong) refining & Chemical Co., Ltd

    forty-five

    August 2020 (postponed to early September)

    Xinjiang Tianye

    twenty

    The material will be put into production on July 28, 2020, and the product is expected to be produced in August

    Shanxi woneng Chemical Technology Co., Ltd

    thirty

    Feed in mid August 2020

    Jianyuan coal coking in etoke banner

    twenty-four

    November 2020

    Sanning, Hubei

    sixty

    November 2020

    Jiutai chemistry, Inner Mongolia

    twenty

    3-4 quarters of 2020 (to be determined)

    Yongcheng Park of Henan Yongjin chemical industry

    twenty

    The original plan for August 2020 is yet to be determined

    Shaanxi Yanchang Petrochemical Co., Ltd

    ten

    3-4 quarters of 2020

    Shaanxi Weihe coal chemical industry

    thirty

    October 2020

    total

    three hundred and nine



    In a word, it can be concluded that: The supply of ethylene glycol in domestic enterprises is low, which will only increase in the later stage, and it is unlikely to reduce the expected reduction; new units will be put into operation successively; the import source is small, and the port inventory remains high; the downstream polyester end is mainly rigid demand, and the price is low, and some products are in deficit, the demand increase is not expected to increase. As a result, it is all bad news all over the world. It is hard to find out the real good inside and outside the market. The recent price rise of ethylene glycol market will only be a flash in the pan.


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