Last week’s analysis pointed out that the domestic ethylene glycol market has been in trouble for nearly two months without a significant breakthrough. Of course, the fundamentals of gradually improving during this period and the peripheral side of the bearishness can be described as a desperate struggle, although crude oil has always been supported by high positions. The heights were not overwhelming, and eventually the main funds were delayed and there was no obvious action. The market was deadlocked. However, the market clearly broke out last weekend. Although the overall atmosphere is still cautious, the market has already made a breakthrough.

Some market participants said that the port’s 800,000 tons inventory level is a reasonable position. Although the port inventory increased by 690,000 tons last week, it still maintained below 700,000 tons. It is clear that the supply pressure has been gradually released, and for the current demand From the negative to the positive, the downstream polyester production load has always been strong, still able to maintain more than 90% of the start, especially the downstream polyester filament facing the double-sided support of the downstream and upstream, continue to maintain tight stocks to boost the rise, on the second Alcohol support is obvious.

Uncertainty factors from the periphery still cover the entire financial market, and the impact on the commodity market has weakened in the near future, while crude oil still maintains its high level of volatility. Ethylene glycol has ushered in the end of the month under the gradual improvement of fundamentals. The support is moderate, and the recent “Dongfeng” is really a boost to the rise of ethylene glycol, market people to create a hype atmosphere by the typhoon.

The news about the typhoon is really a bit more! This year’s No. 8 typhoon “Maria” has just left, and the No. 9 typhoon “Mountain God” landed on Friday, and! This is not over yet! This year’s No. 10 typhoon “Abe” landed on the coast of Chongming Island around Shanghai at around 12:30 on the 22nd. People in the southeast coast were connected and criticized. For ethylene glycol, our foreign trade freight forwarders must also hold on. ! As the main source of imported ethylene glycol, Jiangsu and Zhejiang are the main distribution centers. The frequent typhoon attacks will affect the normal operation of the port and the delay of the shipping schedule. This time, “Abe” will operate the daily operations of Ningbo Port and Shanghai Port. Has a serious impact.

However, the tyrannical typhoon will eventually pass, and ethylene glycol will return to a cautious atmosphere. The market is still lacking in good news to boost the news. It is clear that ethylene glycol can maintain the upward trend after the breakthrough, and it is necessary to follow the follow-up of the substantive transaction. support.