Price trend

According to monitoring data from SunSirs, as of August 11, 2023, the reference price for diethylene glycol in the domestic market is 5,363.33 RMB/ton, a decrease of 136.67 RMB/ton or 2.48% compared to the price on August 4, 2023 (reference price for diethylene glycol was 5,500 RMB/ton).

Analysis review

This week (8.5-8.11), the domestic market price of diethylene glycol weakened narrowly. The highest price in the main market of East China is 5,440 RMB/ton, the lowest price is 5,305 RMB/ton, and the weekly average price is 5,348 RMB/ton. The number of ships arriving at the port this week is limited, and it is expected that some ships have not yet arrived. The main port inventory has slightly increased and continued to decline. The expected increase in supply has limited impact on the market. Downstream, under cost pressure and weak demand, the operating load has narrowed down. Under this influence, the market has shown a narrow weakening, and the trading atmosphere in the market is average. As of this afternoon, the price in the East China market is between 5,300-5,320 RMB/ton, while the price in the South China market is between 5,500-5,550 RMB/ton.

Market outlook

The recent trend of the diethylene glycol market has been stagnant, with incremental port shipments offsetting inventory increases. Moreover, the main port has not yet reached a period of continuous inventory accumulation, and downstream follow-up performance is still good. The market mentality is relatively cautious, but there are still expectations of increased supply. The market has limited upside and downside space in the absence of prominent bearish and positive factors. Diethylene glycol analysts from SunSirs believe that the short-term diethylene glycol market is mainly volatile and consolidation, and continue to pay attention to inventory and demand follow-up.

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