Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View of the Report - The ethylene glycol market has been affected by factors such as cost, supply - demand, and policy. The price has shown significant fluctuations, and the market has been in a weak state. The terminal textile consumption demand is worrying, and the market trading is light. The supply - side increase and demand weakness are expected to continue in the short - term, but there is hope for inventory reduction and supply - demand recovery in the long - term [2]. 3) Summary by Related Catalogs Price Information - On April 8, 2025, the price of CFR Northeast Asia ethylene glycol was $575.55 per ton, a decrease of 14.43% compared to the previous value; the price of North American naphtha was $26.26 per ton, a decrease of 1.00%; the price of East China ethylene oxide was 6800 yuan per ton, unchanged; the price of Inner Mongolia brown coal (Q3000) was 300 yuan per ton, unchanged; the settlement price of the main contract was 448 yuan per ton, a decrease of 0.2%; the closing price of the nearby contract was 4522 yuan per ton, unchanged; the price of East China ethylene glycol was 4310 yuan per ton, a decrease of 2.50%; the price index of foreign ethylene glycol was 2200 yuan per ton, a decrease of 2.1%; the price difference between near and far months was 2200 yuan per ton [1]. Equipment Maintenance Information - A 600,000 - ton/year Xinjiang ethylene glycol synthesis unit has been shut down for maintenance as planned; a 900,000 - ton/year Dalian ethylene glycol unit's maintenance plan has been postponed due to factors such as profit; a 300,000 - ton/year Shanxi ethylene glycol unit's maintenance plan has been postponed due to equipment problems; a 400,000 - ton/year East China ethylene glycol unit's maintenance time is expected to be about 3 weeks [2]. Market Transaction Information - On April 7, the ethylene glycol futures market was affected by factors such as cost and policy, with a sharp decline in the early session, hitting the daily limit, and then rebounding slightly in the late session. The low - level trading price was around 4345 - 4350 yuan per ton, and the afternoon trading price was around 4485 yuan per ton [2]. Market Situation and Outlook - Since the beginning of the year, the ethylene glycol market has been in a weak state. Terminal textile consumption demand is worrying, and the prices of polyester products such as polyester filament, polyester staple fiber, and polyester chips have declined significantly. The supply - side increase and demand weakness are expected to continue in the short - term, but there is hope for inventory reduction and supply - demand recovery in the long - term as the shutdown time of ethylene glycol units is extended [2].
宏源期货日刊-2025-04-08
Hong Yuan Qi Huo·2025-04-08 01:42