Asian ethylene glycol outlook for the better-Iota

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News > Dynamic industry > Asian ethylene glycol outlook for the better

Asian ethylene glycol outlook for the better

Due to new supply capacity is limited, and from the downstream polyester fiber and poly (ethylene terephthalate) industry demand continues to grow, the personage inside course of study recently estimated, 2014 Asian ethylene glycol prices will continue to rise. However, by China's robust economic structure adjustment policies, speculation will get a certain degree of containment, in addition to the global economic downturn may also inhibit the price rise.
2013 glycol spot prices and raw material ethylene cost average spreads remain at $243 (ton price, the same below) high, although slightly lower than the $263 level in 2012, but far higher in the preservation of ethylene glycol 100 ~ 150 dollars. From the market in the long term, the demand for ethylene glycol is still strong. A large ethylene glycol producer is expected to continue to maintain a high level of ethylene glycol industry profit margins in 2014.
Market participants said that released by the relevant manufacturer maintenance plan from the point of view, the 2014 Asian glycol supply will become more tense: a Middle East ethylene glycol major manufacturers have cut several of its main customers for the 2014 contract quota. The manufacturers said they plan in the third and fourth quarter in Saudi Arabia two ethylene glycol plant overhaul, and reactor update. Therefore, it takes two to three months, the two sets of devices are located in Jubail, for a total capacity 1.34 million tons / year. The vendor in Saudi Arabia has 10 sets of ethylene glycol unit, also 8 units total capacity of 437 million tons / year, respectively in Jubail and Yanbu, plan in 2014 for rotation of equipment maintenance, maintenance time of each device for about two weeks.
Sinopec Zhenhai Petrochemical also plans in the second quarter of the 65 million tons / year ethylene glycol plant for a period of one month overhaul. Another Northeast Asia large ethylene glycol manufacturers - Taiwan's Nan Ya Plastics, although not yet determine the 1.8 million tons / year ethylene glycol unit maintenance schedule, but it must be in accordance with the requirements of the local government for regular annual maintenance to ensure safety. In addition, Japan in 2014 the upper reaches of the olefin plant will be a large area of maintenance, is expected to affect Japan's 4 to 5 sets of ethylene glycol plant production, the impact of Japan's ethylene glycol production will be reduced by 60000 ~7 million tons.
At the same time, in 2014, Asia's new ethylene glycol plant put into operation. According to industry sources, this year only two sets of ethylene glycol unit new naphtha feedstock is expected to put into operation in the first quarter of this year. PetroChina in Pengzhou City in Sichuan new 36 million tons / year of ethylene glycol plant is one of them, the other is the China Taiwan China Synthetic Fiber Co., Ltd. is located in Kaohsiung is the new 20 million tons / year ethylene glycol plant.
In addition, there are several coal based ethylene glycol project is being tested, but due to operational and product quality and stability of the existence of uncertainty, coal based ethylene glycol has not been accepted by the downstream polyester industry.
New supply capacity is limited, it is difficult to support the Asian and PET industry 7% to 6% of the demand growth. 2013 Asian polyester net increase in capacity of 6900000 tons, 2014 may be increased by 5000000 - 6000000 tons. According to the production of 1 tons of polyester products need 0.34 tons of ethylene glycol, for now, it is difficult to meet the new polyester production capacity of raw materials supply. Asian ethylene glycol market outlook is expected to rise in price.
However, in order to inhibit in the field of commodity trading liquidity surplus problem, Chinese commercial banks limit the issuance of export credit policy will weaken the trader buying interest of dollar denominated cargo. In the new year, China will continue to implement a prudent monetary policy will also limit speculation.

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