PriceSeek highlights: Increased supply of Ethylene Glycol Unit Resumption

According to market rumors, a 600,000-ton/year synthetic gas to ethylene glycol synthesis facility in Sichuan has restarted and started producing output. The facility was shut down for maintenance in late November, originally planned to restart by the end of November. PriceSeek assessed the ethylene glycol market, giving a negative rating of -1.5. The resumption of the 600,000-ton/year synthetic gas to ethylene glycol synthesis facility in Sichuan increases market supply, exerting downward pressure on spot prices. Combining the data from the futures market for ethylene glycol, with the main contract 2605 closing at 3788 yuan/ton, falling by 17 yuan, and with the volume of open interest increasing by 31,426 contracts, it indicates a strengthening of bearish sentiment in the market, expecting continued weak adjustments in futures prices. A rating of -1.5 reflects a generally strong bearish impact.