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Ethylene glycol soared and fell back to its highest volume since its listing

News Source:http://www.chicheroine.com/ ; SendDate:2019-7-31 11:23:16 

    Oil prices rose slightly yesterday as Britain dispatched a second tanker to the Persian Gulf due to recent attacks on oil tankers in the Strait of Hormuz. South Korea is also considering sending naval forces to join the United States convoy. Military deployments converge or aggravate tensions in the Persian Gulf.

    Domestic energy chemicals continue to differentiate, and there are obvious changes in the ethylene glycol plate. Ethylene glycol futures have been rising since mid-July due to the obvious effect of de-inventory. According to analysts'statistics, the recent start-up of domestic ethylene glycol is still around 65%, the domestic equipment maintenance is concentrated, the supply recovery is relatively slow, and the low support is relatively strong. At the same time, the inventory of East China's main port has dropped to 943,500 tons, a decrease of 338,500 tons compared with the year's highest of 128,000 tons, a decrease of 26.4%, and the effect of depot removal is obvious.

    It is reported that the arrival of ethylene glycol at the main port is still low this week, only about 130,000 tons. It is expected that the port inventory will continue to decline this week. However, in the medium term, the situation of supply exceeding demand of ethylene glycol remains unchanged, and the quick rebound of short-term price also has the factor of fund game. Today's main contract, about 1909, rose by nearly 4% in early trading, then fell rapidly, and the final closing fell by 0.37%. With the rapid outflow of funds, trading volume has also reached a new high since the listing, and in the far month 2001, it was relatively higher. For weakness.

    In July, there were still many domestic methanol re-production plants. Although the start-up rate declined, it was still in a higher position. The pressure of methanol inventory in inland areas was obvious, and the price continued to bear pressure. However, the import side was still expected to increase. The Kaveh 2.3 million tons/year methanol plant in Iran was scheduled to restart today. The device was temporarily shut down last Tuesday due to a boiler problem. Today's futures price rebounded slightly, but it should not be too optimistic.

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