According to market rumors, a 600,000-ton-per-year syngas-to-ethylene glycol plant in Xinjiang is operating at a reduced capacity due to upstream equipment issues and is expected to continue until the end of January. PriceSeek's analysis of ethylene glycol shows a bullish-bearish score of 1. The low-load operation of the 600,000-ton-per-year syngas-to-ethylene glycol plant in Xinjiang until the end of January is expected to reduce ethylene glycol supply, which is favorable for spot prices. Combined with the recent closing price of the main ethylene glycol futures contract (e.g., 2605) at 3,867 yuan per ton (up 29 yuan), the expectation of tight supply may further drive up futures prices, supporting market bullish sentiment.
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