Price trend

According to the monitoring data of SunSirs, as of January 5, 2023, the market price of diethylene glycol was 5,566.67 RMB/ton. Compared with December 30, 2022 (the reference price of diethylene glycol was 5,713.33 RMB/ton), the price decreased by 146.66 RMB/ton, or 2.57%.

Analysis review

It can be seen from the data monitoring of SunSirs that the domestic diethylene glycol market price fell broadly this week (1.2-1.6). At present, the market price in East China is 5,210 RMB/ton, and that in South China is 5,350 RMB/ton. During the week, diethylene glycol suppliers reduced the ex warehouse price of diethylene glycol by 200-250 RMB/ton. This week, investors' worries about the economic recession and the prospect of energy demand led to pressure on oil prices. International crude oil futures prices fell sharply, with weak cost side support.

In terms of port inventory, as of January 3, 2023, the port inventory in East China was about 27,600 tons, an increase of 19,500 tons over last week, with an increase of 240.74%. On the whole, the supply side of diethylene glycol was under pressure; In terms of demand, when returned from the New Year's holiday, the quantity of downstream products picked up was relatively low. In addition, downstream diethylene glycol manufacturers had entered the holiday stage one after another, and there was basically no intention of centralized stock preparation. At the same time, the operating rate of UPR manufacturers was still low, and there was a small amount of inventory, so the demand side of diethylene glycol was weak. In general, the cost side support was weak, the demand performance was poor, the supply support was not obvious, and the diethylene glycol market price was weak

Market outlook

At present, the port inventory in East China is on the high side, and the inventory in South China is not low. On the whole, the domestic diethylene glycol supply side is not performing well; The downstream UPR industry started on the low side, and the demand for diethylene glycol was limited. The mood of taking goods was relatively cautious, mainly wait-and-see. In general, the supply and demand structure was not good. The diethylene glycol data engineer of SunSirs believes that the diethylene glycol market continues to decline in the short term, and the specific trend still needs to pay more attention to the terminal shipments and subsequent arrivals.

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