1. During the Spring Festival, all bulk commodities with information dissemination channels are showing an upward trend. Among them, oil prices hit a seven-year high (reaching 92 US dollars per barrel). Ethylene prices have also rebounded upwards by $80 per ton before the holiday.
2. The price of industrial oils and fats has reached a new high during the holiday period. Due to the unusually high prices, the industrial chain has significantly compressed inventory during the holiday period to avoid risks. After the holiday, there may be a shortage of oil and fat products, leading to irregular price adjustments.
3. EO prices remain unchanged from last year's Spring Festival, but ethylene prices are $300/ton higher than last year. EO production costs have increased by 1800 yuan/ton year-on-year. In addition, ethylene glycol has a significant price advantage, and it is expected that an increase in EO prices will become inevitable after resuming work.
Comprehensive analysis: If the overall upward trend of commodity prices is a high probability event after the start of construction, then the polyethylene glycol series products will inevitably increase synchronously.