Shouchuang Futures: Port inventory reduction fell slightly short of expectations, coupled with adjustments in the polyester sector, causing ethylene glycol futures to fluctuate and weaken.

Crude oil prices declined, leading to an overall adjustment in the polyester sector, coupled with the port inventory clearance in the first half of April falling short of expectations, resulting in a weaker ethylene glycol trend. However, the geopolitical impact on raw materials and equipment continues, and the supply and demand pattern of ethylene glycol is gradually tightening, which may limit the downward space for futures prices. Pay attention to the negotiations between the US and Iran, as well as the navigation situation in the Strait of Hormuz. (Shouchuang Futures)