Ethylene glycol prices continue to rise, supply and demand tensions attract market attention

Ethylene glycol prices continue to rise, supply and demand tensions attract market attention

Recently, the price of ethylene glycol in the domestic chemical market has continued to rise, attracting widespread attention in the industry. According to market data, the price of ethylene glycol has risen significantly in the past month, mainly affected by multiple factors such as tight supply and demand and rising raw material prices.

Tight supply.

It is understood that during the Spring Festival, major domestic ethylene glycol production companies stopped production and took holidays, resulting in a decrease in market supply. At the same time, demand in the downstream polyester industry continued to grow, especially the demand for polyester in the textile and packaging industries increased significantly, further exacerbating the contradiction between supply and demand of ethylene glycol.

Rising raw material prices

The prices of crude oil and ethylene, the main raw materials for the production of ethylene glycol, have also shown an upward trend recently. The fluctuation of international crude oil prices has directly pushed up the production cost of ethylene glycol, and the tight supply of ethylene has made the situation even worse, causing the price of ethylene glycol to rise.

Low inventory.

Market data shows that the current inventory of ethylene glycol is at a one-year low, and the tight supply situation is difficult to alleviate. After the Spring Festival, all enterprises resumed work and production, and the purchase volume of ethylene glycol further expanded, further driving up the price of ethylene glycol.

Future Trend Outlook

Industry insiders analyzed that in the short term, the tight supply situation has not been alleviated, and the price of ethylene glycol may continue to remain high.