China's average EG Maintenance Shutdown

China's average operating rates are about 50% | Arbitrage is difficult due to a lack of ships

Jul 21, 2022

- China's average operating rates are about 50%- Arbitrage is difficult due to
a lack of ships

Due to weak demand, Asian mono ethylene
glycol was downgraded on July 20. According
to market sources, the average operating rate in China was around 50%. The
naphtha-based units were at 54%, and coal-based units were slightly lower. The margins
of antifreeze and polyester have been low and an increase is unlikely due to
weak demand in China's downstream textile sector. According
to market sources, polyester producers were experiencing low inventories. This
was down from the usually more than 30-day inventories. A seller
reported that South Korean polyester producers were operating at around 80% to
85%, which is a drop from the 100% they had at the start of the year. For a
parcel of 10,000-12,000 mt, freight...

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