Price trend

According to the monitoring data of SunSirs, as of June 9, 2023, the reference price of diethylene glycol in the domestic market was 5,283.33 RMB/ton, which was 700 RMB/ton lower than the price on June 2, 2023 (the reference price of diethylene glycol was 5,983.33 RMB/ton), a decline of 11.07%.

Analysis review

As can be seen from the commodity market analysis system of SunSirs, the diethylene glycol market continued to fall deeply this week (6.3-6.9). This week, the overall change of diethylene glycol market fundamentals was limited. The factory started at a low level, and imported ships arrived at the port successively, but the shipment remained flat, and the inventory at the main port increased slightly. The downstream demand remained light, the market mentality was unstable, the downstream follow-up intention was insufficient, the buying continued to depress the price, the lack of buying gas, making the focus of market negotiations continue to weaken, and the price of diethylene glycol dropped broadly. As of this weekend (June 9), the domestic market price of diethylene glycol was around 5,100-5,200 RMB/ton.

Market outlook

As of June 9, the shutdown and maintenance of domestic devices had been basically implemented, The number of ships arriving at the dock was relatively clear, the fundamentals of diethylene glycol remained stable, the market mentality factors were heavy, the influence of diethylene glycol supply and demand logic was reduced, and the influence of emotion was expanded. Diethylene glycol analysts from SunSirs believe that the diethylene glycol market may be adjusted weaker in the short term, and pay particular attention to the downstream follow-up and the impact of changes in market sentiment.

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