Market in the first half of ethylene glycol under the influence of a variety of factors showing a trend of volatility. 1 February, volumes, prices rose sharply in January the average price of 9160 yuan (t value, same below), up 10.2%; average price of 9840 yuan in February, the chain jumped 7.4%. March to May in the market under profit-taking pressure plate, ethylene glycol prices lower, in March the chain fell 1.6% in April, the chain fell 8.6% in May fell by 1.6% qoq. June glycol market is a volume and price movements, the whole month average price of 9,500 yuan, the chain rose 9.2%. The first half of this year the average price of 92.9 yuan, compared with December last year, up 11.7%, reaching a new high. Ethylene glycol in the second half of this year increased market demand, but still taking into account inflationary pressures, policy control steering, lack of funds in the market area, as well as negative factors such as parity of ethylene oxide, ethylene glycol is expected in the second half will be at a stable price There are down, down is not the situation, the second half of the average price of 9,000 yuan will be up and down,
Copper ChromiteCC , slightly lower than in the first half. Second half of the ethylene glycol market, the main factors are:
- Production remained virtually unchanged in the first half of the domestic production capacity of ethylene glycol at 400 million tons, due to the second half of no new ethylene glycol plant put into operation, remaining in the first half of the level, a certain price will be ethylene glycol support, but also reduce the market's psychological pressure.
- Increasing demand for ethylene glycol 90% polyester chip production in 2011, China has 470 tons / year of new production capacity of polyester, in the first half has been expanded to 1.7 million tons, the second half of this year there will be 3 million tons of polyester chips production release, China's polyester production capacity will reach 33.5 million tons / year. The domestic polyester industry in 2011 to 75% capacity utilization estimates, production will be 25.12 million tons or so, consumption of ethylene glycol 8.54 million tons. Another booming sales in China's automobile industry case, automotive antifreeze ethylene glycol will also increase demand.
- Reduced dependence on imports despite a rapid increase in global ethylene production capacity over the peak, showing a periodic state of oversupply, but because of China to develop coal-glycol included in the "restructuring and revitalization of the petrochemical industry planning ", petrochemical raw materials and coal glycol diversity has become a new path of development. Earnings expectations due to good domestic coal production capacity of ethylene glycol rapidly. Although in recent years the rapid expansion of domestic ethylene glycol, but there is still a large gap in the domestic market, imports need to make up. January to May,
CAS 12018-10-9, total imports of domestic ethylene glycol at 276 million tons. The second half of the domestic ethylene glycol is expected to import slightly more than half, from South Korea, North America, China Taiwan, the share of imported ethylene glycol may be dropped; annual imports of 680 million tons, representing an increase of 2.4% , decreasing our dependence on foreign glycol trend gradually emerged.
- Textile industry growth will slow by the international market are not the optimistic outlook, this year the growth of Chinese textile exports will decline significantly over the previous year. In addition, the volatility of raw materials, changes in exchange rates, coal energy supply, labor costs, environmental pressures, inflation is expected to increase and tightening of macroeconomic policy environment and other factors, this year's overall growth rate of China's textile industry will be put slow. Second half of the ethylene glycol market will remain subject to the textiles, clothing and concerns about economic fundamentals, especially the weakening price of polyester chips, market competition, export of polyester chips affected by REACH and other regulations, will be ethylene alcohol prices a certain negative impact.
- Macro-economic side is not ideal in June 2011, China Manufacturing Purchasing Managers Index (PMI) dropped consecutive month, since March 2009 appeared a new low, showing that China's manufacturing growth has slowed down month by month signs. Another in the labor force by rising costs and high raw material purchase price is still under the influence of ethylene glycol manufacturers operating pressure gradually increased, decreased level of profitability,
fine chemicals suppliers, a negative outlook on the ethylene glycol. Recent glycol manufacturers to increase pressure on the stock drop is expected to decline in the second half of the level of ethylene glycol price valuation, the market will be a certain pressure. Source: www.mhcfm.com
