Geopolitical conflicts continue to intensify, boosting cost-side support for ethylene glycol
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Golden Ten Data Futures News on January 4: At present, the downstream textile and apparel industry has entered the off-season for consumption, with seasonal declines expected in polyester and weaving operating rates. Additionally, there are still plans for trial runs of new ethylene glycol units on the supply side, so the expectation of continued inventory accumulation for ethylene glycol remains, and the supply-demand pressure for ethylene glycol is still significant. However, during the New Year’s holiday, escalating geopolitical tensions in Venezuela have increased market concerns over the stability of crude oil supply, thereby strengthening cost-side support for ethylene glycol. Today, both international crude oil and ethylene glycol futures markets are closed, so there is still limited directional guidance for the ethylene glycol spot market. Spot trading is mainly focused on turnover, with fewer heard fixed-price negotiations. (Sublime Information)
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