Supply and Demand - As of October 9, the overall operating rate for MEG was 75.08%, an increase of 2%, while the coal-based MEG operating rate was 78.83%, up by 4.47% [2] - As of October 13, the estimated port inventory of MEG in the East China main port area was approximately 541,000 tons, an increase of 34,000 tons compared to the previous period [2] - Demand remains consistent with PTA demand [2] Market Outlook - The arrival of ethylene glycol at the main port is expected to remain high this week, with port inventory likely to increase early next week [3] - The new facility at Yulong Petrochemical has commenced production, and the operating load will gradually increase, alongside the successful restart of the satellite petrochemical facility at the beginning of October, maintaining high domestic supply [3] - Ethylene glycol is expected to accumulate in October, with a weak supply-demand structure anticipated for November and December, leading to a bearish outlook for ethylene glycol [3] - Recommended strategies include shorting EG01 at high points, holding out-of-the-money call options EG2601-C-4350, and hedging EG1-5 at high points [3]
乙二醇：港口库存累库 且MEG远月供需结构较弱 短期MEG偏弱运行
Jin Tou Wang·2025-10-14 03:03