According to data from Jinlianchuang, domestic ethylene glycol plants began intensive maintenance in March and April. As of April 15, the comprehensive operating rate dropped to around 61.43%, of which the operating load of coal-based ethylene glycol plants fell back to about 41.58%. %.
Data source: Jin Lianchuang
From mid-to-late February to March, after the Spring Festival holiday this month, domestic integrated devices were highly restricted due to the storage and transportation of related products EO. Petrochemical companies (Shanghai Petrochemical, Zhenhai Refining and chemical) and domestic MTO companies began to lower the EO output load and increase the MEG output load. However, some companies have lowered their operating loads due to inventory and sales pressure. Affected by recent public events, transportation in all aspects of the industry has been restricted, and coal plants have been forced to reduce production.
At the end of April, companies that had carried out planned maintenance in the early stage were also preparing to restart their installations. Affected by the poor domestic market conditions, the restart process of maintenance equipment has been slow. For example, two units in Anyang and Luoyang, Yongjin, Henan, were originally planned to restart in mid-March, but are now scheduled to be postponed and there is currently no restart plan.
In May, industry insiders in the ethylene glycol market are still pessimistic. If the market continues to be sluggish, the restart of production companies will continue to be delayed. In addition, overseas supply of goods continues to flow into the market, terminal demand for ethylene glycol is limited, port inventories remain high, and the pressure on the ethylene glycol supply side is shrouded. The market situation is not optimistic. Enterprises are suffering from serious losses, and it will be difficult to pick up construction.
The recent operation status of some domestic ethylene glycol plants is shown in the figure below:
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