Price trend

According to the data from SunSirs, as of August 4, 2023, the reference price of diethylene glycol in the domestic market is 5,500 RMB/ton, up 170 RMB/ton or 3.19% compared with the price on July 28, 2023 (the reference price of diethylene glycol was 5,330 RMB/ton).

Analysis review

This week (7.29-8.4), the price of domestic diethylene glycol market fluctuated and rose. This week, the shipment has been delayed, the number of arrivals is relatively small, the main port inventory is constantly decreasing, supply is not under pressure, and the market is actively pushing up. At the same time, downstream follow-up performance is relatively stable, and the overall market sentiment is relatively strong, the trading atmosphere is acceptable. However, the market is also concerned about the subsequent increase in supply and price fluctuations. As of yesterday's closing, the price in the East China market was 5,420-5,440 RMB/ton, while the price in the South China market was 5,600-5,650 RMB/ton.

Market outlook

Recently, the arrival of cargoes at the port is insufficient, the shipment at the wharf is acceptable, and the circulation of cargoes in the reservoir area is tight. The periodic favorable fundamentals have pushed up the diethylene glycol market, and the market has maintained a tentative upward trend. However, there are too many subsequent pre arrival ports, and the market is relatively lack of further driving force. Diethylene glycol is relatively stronger in the short term and will be weaker in the long term.

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