In The First Half Of The Year, Imports Of Ethylene Glycol Decreased And Exports Began To Increase

In the first half of the year, the domestic ethylene glycol market rose to a high level of 6505 yuan / ton after the Spring Festival, began to fall back to the low level of 4716 yuan / ton, and then began to rise slowly. In terms of import and export, due to the increase of domestic plants and the impact of increased foreign demand, the domestic import of ethylene glycol in the first half of the year decreased by 1.2781 million tons compared with last year, and the export volume increased by 98300 tons compared with the interval.

In terms of import, China exported 4.3377 million tons of ethylene glycol in the first half of the year, down 22.756% compared with the same period last year. According to the analysis, the reduction of import is mainly due to the poor operation stability of overseas units (mainly from the United States), the low load of raw materials (Middle East), and the decrease of other major source countries (public health events).

In terms of export, China exported 100000 tons of ethylene glycol in the first half of the year, up 98300 tons or + 5914.74% over the same period last year. Since September last year, the increase in export volume has been mainly exported to Mexico, the Russian Federation, South Korea, Belgium, Brazil, the Netherlands and other places. There are monthly changes and no rules to follow.

In the first half of the year, Saudi Arabia, Canada, Taiwan, Singapore and Iran were still the top five countries / regions in terms of total domestic ethylene glycol imports. In terms of total amount, it accounts for more than 95% of the total domestic ethylene glycol import. The United Arab Emirates, which was the fifth largest import country, started in October 2019 and only imported once in April 2020. In the rest of the time, the import volume was zero, mainly due to the cancellation of transfer trade.

In the first half of the year, the top three cities in China's total import of ethylene glycol in the first half of the year showed a slight change compared with previous years. In previous years, Jiangsu, Zhejiang and Fujian were the main cities, while this year, Jiangsu, Zhejiang and Beijing were the main cities. In absolute terms, the top three imported ethylene glycol accounted for more than 75% of the total domestic imports.

In summary, the domestic ethylene glycol production capacity is gradually released, and the impact of public health events, the import source will gradually increase in the later period. It is estimated that the increase of import sources in the off-duty year will be limited, which will be reduced compared with the previous average. The overall import volume is expected to decrease by about 1.5 million tons compared with 2020, which is not much compared with the output of new domestic enterprises.