Price trend

According to the monitoring data of SunSirs, as of October 20, 2023, the reference price of diethylene glycol in the domestic market was 5,516.67 RMB/ton, a decrease of 13.33 RMB/ton or 0.24% compared to the reference price of diethylene glycol on October 13, 2023 (5,530 RMB/ton).

Analysis review

This week (10.14-10.20), the domestic market price of diethylene glycol rose first and then fell. The international crude oil trend fluctuated during the week, and the market was mainly affected by macro factors, with prices rising first and then falling. The number of port arrivals was limited, the number of shipments had increased, and inventory was showing a downward trend. However, the overall supply and demand pattern had not changed much, and market sentiment was mainly adjusted. There was a lack of clear information guidance, and market prices remained fluctuating. As of the close of Thursday, the spot price in the East China market closed at 5,470-5,480 RMB/ton.

Market outlook

As of October 20th, there was strong peripheral uncertainty, unstable fluctuations in international crude oil prices, and a lack of substantial cost drivers. Diethylene glycol had no pressure on its fundamentals, the arrival quantity at port was limited, and domestic device parking and load reduction coexisted. The load was at a low point within the stage, with downstream factories mainly relying on demand and no centralized order production. Demand remained stable, and the supply and demand structure provided stable support for diethylene glycol. SunSirs' diethylene glycol analysts believe that in the short term, the diethylene glycol market will still fluctuate and adjust within a narrow range.

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