Ethylene glycol import is expected to pick up in the second quarter

March 16, 2023

TDD-global

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Highlights at a glance

The U.S. and Saudi Arabia lead in ethylene glycol imports, but supply disruptions have affected shipments to China. In Q1, imports are expected to drop below 500,000 tons. However, signs indicate a rebound due to decreased European prices and new Indian production capacity. Projections for Q2 suggest imports may exceed 550,000 tons.

The United States and Saudi Arabia are the main import countries of ethylene glycol. Affected by the shutdown of the plant in the first quarter, the supply of goods exported to China by the United States and Saudi Arabia both shrank. It is estimated that the monthly import of ethylene glycol in the first quarter will fall below 500000 tons. However, there are signs that the overseas supply will return to China at present. On the one hand, the price of ethylene glycol in the European market fell back, plus the loss of some local demand after the earthquake in TÃ¼rkiye. Previously, the supply of goods sent from the United States and Iran to Europe flowed back to the Chinese market, involving 30000 to 40000 tons. It is expected that they will arrive in China in March and April. On the other hand, the new production capacity of Indian IOC is stable, squeezing out the local ethylene glycol imports. Iran BCCO has successively shipped its supplies in the Indian market to China in late February, and is expected to arrive in China in late March. Therefore, the import volume of ethylene glycol in the second quarter will increase, and the average monthly import volume is expected to rise to more than 550000 tons.

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