海内外检修装置已逐渐开启 乙二醇震荡格局不变

News Summary Core Viewpoint - The recent restart of synthetic gas-to-ethylene glycol facilities in Xinjiang and MEG facilities in the U.S. indicates a gradual recovery in production capacity, while port inventories and downstream operations show mixed signals regarding supply and demand dynamics in the ethylene glycol market [1][3][4]. Group 1: Production and Inventory - A 150,000 tons/year synthetic gas-to-ethylene glycol facility in Xinjiang has recently restarted production after maintenance in mid-July [1]. - A 700,000 tons/year MEG facility in the U.S. has also resumed operations following maintenance at the end of July [1]. - As of August 18, total MEG port inventory in the East China main port area is 502,400 tons, a decrease of 32,100 tons from the previous Thursday, but an increase of 25,000 tons from the previous Monday [1]. Group 2: Market Dynamics - Port inventory has slightly decreased to 54.7 tons, but factory inventory remains high, suggesting a potential increase in ethylene glycol supply as domestic facilities resume operations [3]. - Downstream operating rates have recovered to 89.4%, indicating a rebound in demand, while the market may experience a slight increase in both supply and demand [3]. - The profit margins for various production methods are as follows: naphtha-based production shows a loss of 348 RMB, ethylene-based production shows a loss of 604 RMB, while coal-based production yields a profit of 696 RMB [4].