Price trend

According to the monitoring data of SunSirs, as of March 3, 2023, the reference price of diethylene glycol in the domestic market was 5,750 RMB/ton, an increase of 183.33 RMB/ton or 3.29% compared with the price on February 24, 2023 (the reference price of diethylene glycol was 5,566.67 RMB/ton).

Analysis review

It can be seen from the data monitoring of SunSirs that the domestic diethylene glycol market as a whole showed an upward trend this week. This week, the delivery of diethylene glycol at the port was good, and the downstream demand was expected to be good, and the performance of on-site stock removal was good. With the support of the supply side, the market price of diethylene glycol was steadily rising this week. As of the end of the week (March 3), the domestic market price of diethylene glycol was around 5,700-5,850 RMB/ton, with a weekly increase of 3.29%.As of the 3rd, the international crude oil continued to rise, the cost support was stable, and the market sentiment was generally optimistic.

As of March 3, the port inventory maintained a downward trend. The diethylene glycol inventory in Zhangjiagang two reservoir areas was about 35,800 tons, down 7,900 tons, or about 18%, compared with the end of last week (43,700 tons of diethylene glycol inventory).

Market outlook

The supply side support was good, plus the expectation of downstream demand was good, and the overall market sentiment was optimistic. The diethylene glycol data analyst of SunSirs believes that in the short term, the diethylene glycol market will maintain a volatility and stronger trend, and more attention should be paid to the international crude oil trend and inventory changes.

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