The price of ethylene glycol remained strong in July and slightly fell at the end of the month
In July, the price of ethylene glycol first rose and then fell, showing an inverted “V” trend. In the early stage, influenced by anti involution sentiment, the price of bulk commodities showed an upward trend, and the price of ethylene glycol steadily rose. From a fundamental perspective, in mid July, there were rumors circulating in the market that ethylene glycol was negatively affected by Zhejiang Petrochemical’s EG reduction, problems with Shenghong CDU, unplanned maintenance of Singapore Shell, delayed shipment from Saudi Arabia, and the satellite’s PE opening but EG not opening in August, as well as another cracking stop in August. These news had a relatively positive impact on the supply of ethylene glycol, coupled with low port inventory data and a significant rebound in raw coal prices. As a result, the price of ethylene glycol rose significantly.