Ethylene Glycol Falls And Never Stops Looking At The Bottom.
Since October 2018, the domestic ethylene glycol market has entered the downlink channel. It is really down and down. From 8000 yuan / ton + to now 4300 yuan / ton, what is the reason for that?
Earlier, the article said, what is the reason for the decline?
One New production capacity is too fast, and spot supply is surplus.
Two The import dependency ratio has been kept at 60%, and the import volume has been increasing because of the considerable profits.
Two The main port stock has reached a record high of about 1400000 tons at the highest level, which is now slowly dropping down.
The reason for the deep fall is: let's talk about it.
One The macro economy, "I dare not ask, I dare not say," is clear to everyone.
Two Because of 1 reasons, domestic commodities and futures are all down.
Three The profit of the terminal loom is negative, and the enthusiasm of purchasing materials is decreasing.
Four The price of ethylene glycol continues to drop under the situation of polyester price reduction promotion. However, sales promotion is generally effective, and pet manufacturers are releasing news such as weight loss, overhaul and so on. (please pay attention to polyester plate information)
Comparison chart of process profit of ethylene glycol
Source: lung Chung
Conclusion: The macroeconomic impact of the textile industry is bad, forcing polyester to the upstream raw materials. Terminal weaving enterprises have a very bad profit and high inventory, forcing polyester factories to stop work and reduce their losses, and the industrial chain is linked together. Even if the profits of ethylene glycol can not be negative, they will not be able to see the expectation of reverse supply in the condition of ample supply and high inventory. At present, ethylene glycol talks about the price of 4200 yuan / ton, coal glycol enterprises have been unable to hold on, the delayed start up time of the parking, the load reduction started, and the average coal work start up less than 50%.
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