Upstream and downstream price information:
As of today’s (26th) press release, the latest CFR NE Asia price of upstream ethylene is US $999.00-1001.00/t; CFR SE Asia price is US $974.00-976.00/t; domestic Jinshan United trade ethylene price is RMB 7800 / T; Luxi Chemical price is RMB 7900 / T.
The ex factory reference price of ethylene oxide is 7600 yuan / ton in East China, South China and Northeast China, 7800 yuan / ton in North China and 7850 yuan / ton in Central China.
Downstream monomer Shanghai Dongda hPEG quoted 10000 yuan / ton, imported TPEG quoted 10300 yuan / ton; Hubei Ling’an temporarily closed the offer, Sanjiang Chemical monomer quoted 9800 yuan / ton.
After the festival, the downstream operation rate in China gradually increased, and the continuous tight product inventory and the rising upstream crude oil price led to the steady rise of ethylene price in Asia. Market news pointed out that a naphtha cracking unit of Yangzi Petrochemical Company was shut down for maintenance on February 20, and the methanol to olefin unit of Nanjing Chengzhi might be overhauled in March, while the downstream PE price and demand trend of ethylene were stronger, which further pushed up The price of ethylene. The profit margin of ethylene oxide is squeezed due to the rising price of ethylene in the upstream. At present, the profit of ethylene glycol is about 1000 yuan, and the profit of ethylene oxide is 200-300 yuan. Therefore, the cogeneration unit increases the output of eg. the ethylene oxide unit of Lianhong group was shut down on February 21. The planned maintenance time is one month. The ethylene glycol load of Sanjiang is increased to 60-70%, and the EO unit of China Science and technology Refining & Chemical Co., Ltd. is closed Load reduction. Affected by the maintenance plan, ethylene oxide market resources are tight, supply and demand are favorable, and the market is bullish. Facing the soaring price of ethylene oxide, the cost of downstream monomer enterprises is under pressure, and the monomer price is rising all the way. At present, the market price is in the range of 9800-10500, and the market attitude is cautious and optimistic. The contract price of downstream MEG futures eg2105 recently exceeded 5900 yuan / ton, the spot price is currently maintained at about 6400 yuan / ton, the spot / futures price difference remains at a high level, the operating rate has gradually increased slightly, the stock market continues, and the glycol market is still strong.
The support of cost and supply and demand side is strong. At present, epoxy has digested the increase, and the market focus will still move up in the later stage, which is relatively strong.
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