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Predicting Ethylene Glycol for 2024
创建于05.28
【Introduction】In 2023, there were few fundamental directions guiding the market for ethylene glycol. Under the influence of macro factors, the price of ethylene glycol continued to fluctuate within a range. After entering 2024, the supply and demand structure of ethylene glycol will further tighten. It is expected that the price of ethylene glycol, on the basis of strengthening at the end of 2023, will maintain a wide range of fluctuations.
There are fewer fundamental directional cues. Ethylene glycol is expected to fluctuate within a range in 2023.
In 2023, the overall trend of ethylene glycol was wide-range fluctuations. Due to the significant accumulation of inventory from the end of 2022 to the beginning of 2023, although there was a notable inventory reduction in the ethylene glycol industry from March to July 2023, the inventory level remained at a moderately high level throughout the year. The supply and demand structure of ethylene glycol provided insufficient support for its price. Additionally, the weak macroeconomic environment in the first half of the year led to a general downward trend in the commodity market, causing the price of ethylene glycol to remain weak. After the third quarter, the commodity market as a whole stopped falling and rebounded, but the high inventory of ethylene glycol still suppressed the rebound height of its price. The price of ethylene glycol remained in a wide range of 4,100 yuan/ton ± 300 yuan/ton throughout the year. However, in December, factors such as the conflict in the Red Sea, concentrated maintenance of ethylene glycol plants, delayed arrivals due to weather conditions, and temporary shutdowns of plants boosted the price of ethylene glycol, and the price rose above 4,400 yuan/ton by the end of the year. The average price of ethylene glycol in 2023 was 4,085.84 yuan/ton, a decrease of 9.97% compared to 2022.