According to the Taiwan Business Times, International EG (ethylene glycol) manufacturer SABIC took the lead in setting a contract price for August at $1,260 per metric ton, which is the same as in July. SHELL and MEG-GLOBAL are also expected to follow suit. As the raw materials of ethylene continue to rise, EG is still weak. The domestic EG plant originally used Sinopec for repairs in August, but it does not rule out premature repairs in the market.
Far East EG spot price is about 1,100 US dollars per metric ton, the industry believes that the price per metric ton of ethylene has already reached more than 1,650 US dollars. According to reasonable analysis, EG should follow the trend, but in August the EG contract price has been flat, mainly The coldness of the downstream buying can not drive the market, but it is impossible to open the market.
Some traders believe that the ethylene market is still in a tight supply situation. In addition, the domestic manufacturer South Asia will be repaired in September, the ethylene market is difficult to turn down, adding to the cost pressure of the EG plant, several domestic EG plants including South Asia, East Union And so on, and so on, how much will be affected.
Wang Guixian, chairman of China Fiber, pointedly pointed out that the company’s EG plant has always been closed to the Chinese oil's annual repair time. China Petroleum is expected to be repaired in August this year. However, if ethylene prices continue to rise, and downstream buyers shrink, they will Under the attack, it does not rule out the early retirement.
The EG contract price was affected by the shutdown of SABIC last year. The supply and demand in the market was imbalanced. The contract price in January was still around US$1,600. In February and March, heavy snowstorms occurred on the mainland, and the rapid freezing of buying prices caused spot prices to plunge. The contract price fell sharply by more than 100 US dollars per metric ton. Although in April it was bounced again due to warmer buying prices, it fell again in May and June.
In July, it looks like it is stabilized, and the contract price has risen by US$60. However, this coincides with the traditional off-season, and a wave of production cuts by downstream chemical fiber plants has caused the August contract price to keep flat. Most companies believe that this year It is unlikely that the SABIC event will repeat itself and the market will continue to rise. The rough estimate of the average price per metric ton of EG this year will fall between $1,100 and $1,200.
It is understood that the annual production of EG in South Asia is about 1.6 million tons, while Donglian and China Textiles are about 250,000 to 270,000 tons.
Far East EG spot price is about 1,100 US dollars per metric ton, the industry believes that the price per metric ton of ethylene has already reached more than 1,650 US dollars. According to reasonable analysis, EG should follow the trend, but in August the EG contract price has been flat, mainly The coldness of the downstream buying can not drive the market, but it is impossible to open the market.
Some traders believe that the ethylene market is still in a tight supply situation. In addition, the domestic manufacturer South Asia will be repaired in September, the ethylene market is difficult to turn down, adding to the cost pressure of the EG plant, several domestic EG plants including South Asia, East Union And so on, and so on, how much will be affected.
Wang Guixian, chairman of China Fiber, pointedly pointed out that the company’s EG plant has always been closed to the Chinese oil's annual repair time. China Petroleum is expected to be repaired in August this year. However, if ethylene prices continue to rise, and downstream buyers shrink, they will Under the attack, it does not rule out the early retirement.
The EG contract price was affected by the shutdown of SABIC last year. The supply and demand in the market was imbalanced. The contract price in January was still around US$1,600. In February and March, heavy snowstorms occurred on the mainland, and the rapid freezing of buying prices caused spot prices to plunge. The contract price fell sharply by more than 100 US dollars per metric ton. Although in April it was bounced again due to warmer buying prices, it fell again in May and June.
In July, it looks like it is stabilized, and the contract price has risen by US$60. However, this coincides with the traditional off-season, and a wave of production cuts by downstream chemical fiber plants has caused the August contract price to keep flat. Most companies believe that this year It is unlikely that the SABIC event will repeat itself and the market will continue to rise. The rough estimate of the average price per metric ton of EG this year will fall between $1,100 and $1,200.
It is understood that the annual production of EG in South Asia is about 1.6 million tons, while Donglian and China Textiles are about 250,000 to 270,000 tons.
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