Shouchuang Futures: Rising costs combined with port inventory reduction, ethylene glycol futures halt decline and rebound

Spot Market, East China Ethylene Glycol Price 5205 RMB/ton self-pickup, up 100 RMB/ton from the previous trading day.
On the supply side, a 550k-ton and a 700k-ton ethylene glycol plant in Saudi Arabia have recently shut down due to raw material issues, and a 600k-ton plant in Shaanxi is scheduled to shut for maintenance starting April 15 for 20 days.
This week, the total MEG inventory at major ports in East China is 935k tons, down 18k tons compared to the previous period.
On the demand side, filament factories are increasing production cuts, and the operating rates of polyester and terminal weaving have decreased.
In summary, geopolitical tensions have escalated again, energy prices have stopped falling and rebounded, and cost support remains strong.
Overseas plants continue to reduce operating rates, import volumes are expected to decline, and port inventories are decreasing.
In the short term, ethylene glycol futures are expected to remain volatile with a slight upward bias, paying attention to geopolitical developments, changes in domestic and foreign plant operations, and cost fluctuations. (First Capital Futures)