ChemAnalyst

Mono Ethylene Glycol prices dipped after observing a rise during the last week of March due to fluctuating crude oil prices. This drop in energy prices relieved the market prices of all crude derivative products including, Ethylene, and feedstock of MEG. In addition, due to the current epidemic situation in China, the manufacturers are hamstrung from increasing their prices, seeing the weak demand from downstream packaging and textile industries in the domestic market. MEG market dropped following the feedstock ethylene in the second half of this week after the smoothening of natural gas prices in the global market and the sluggish demand from the Asia-Pacific region because of lockdown in China. Ethylene Glycol manufacturers have also reduced their operating load by 3% compared to the beginning of the month. There was a drop in construction by 2% in the downstream polyester industry with insufficient inventories. China, being a net importer of Ethylene Glycol, has witnessed several...

With minimal contracts, the PTMEG market rose in the first week of January. Mono Ethylene Glycol prices futures rose and spot prices were strong in the early week, owing to firmer demand and sluggish supplies. While cost support is not maintained, the raw material BDO price is running at a high level, and the market has strong pricing sentiments. Domestic traders' demand for PTMEG was reported to be slow. The supplies were only made in order to fulfil export orders. As the burden of insufficient Polyester inventories mounted, due to the shortage of PTMEG, the domestic manufacturing producers felt the pinch. In the face of growing raw material prices, the atmosphere of terminal speculation and follow-up grew stronger. The entire domestic and export markets are now underperforming. Due to the multiple plant turnarounds that are scheduled for maintenance, the shipments are generally undeliverable. With the forthcoming Spring Festival, the polyester industry chain has entered its t...