SunSirs: Daily Review of Ethylene Oxide (November 24, 2021)

　　Price trend

　　On November 24, the ex-factory price of ethylene oxide in East China, North China, South China, and Northeast China was 7,500 RMB/ton, and the ex-factory price in Central China was 7,700 RMB/ton, which was the same as the previous trading day.

　　Analysis review

　　In terms of upstream ethylene, on November 24, the external price of ethylene in Northeast Asia was 1,130 US dollars/ton, and the price of ethylene in Southeast Asia was 1,045 US dollars/ton. The price of Jinshan United Trading’s ethylene on the 24th was 7,800 RMB/ton, which was the same as the price of the previous trading day. The price of ethylene was slowly falling. Calculated based on the latest external price, the loss of ethylene oxide is about 500 RMB/ton. Manufacturers limited production and reduced the burden to reduce losses.

　　On the downstream side, the current valuation of ethylene glycol is at a low level. Although the demand for ethylene glycol in the polyester industry has improved, it fluctuates at a low level due to the expectation of new capacity in the future and the negative impact of crude oil. There are still concerns in the monomer downstream market, and they are still mainly waiting and watching, and demand increases are limited.

　　Market outlook

　　The ethylene glycol market is temporarily stable in the future.