SunSirs: Daily Review on Ethylene Oxide (2022/6/8)
http://www.chemnet.com Jun 09,2022 SunSirs
Ethylene oxide was lowered by 350 RMB/ton on the 8th, and the ex-factory price in the mainstream East China region was 7,350 RMB/ton.
The overall decline of ethylene in the upstream outer disk continued to bottom out, and the domestic ethylene price fluctuated. On the 8th, the outer disk price of ethylene in Northeast Asia was 1,030 US dollars/ton, and the price of ethylene in Southeast Asia was 1,150 US dollars/ton. The overall decline of ethylene in the upstream outer disk continued unabated, and the domestic ethylene price fluctuated. On the 8th, the ethylene price of Jinshan United Trading was 8,450 RMB/ton, which was unchanged from the previous trading day.The current price of imported ethylene is almost the same as that of domestic ethylene. If the price of ethylene in the external market continues to decline, the import arbitrage space will gradually open up. Based on the current price of the external market and the adjusted EO price on the 8th, the current loss of ethylene oxide is around 350 RMB/ton.
The negotiation atmosphere of downstream monomers was light, and the start of construction remained low and fluctuated within a narrow range. Manufacturers regained their wait-and-see mood and delayed quotations.Market outlook
Substantial improvement in the terminal and supply side is hopeless, and the maintenance of the near-term ethylene oxide plateau is highly likely to depend on the volatility of ethylene prices.