Price trend

According to monitoring data from SunSirs, as of November 3, 2023, the reference price of diethylene glycol in the domestic market was 5,283.33 RMB/ton, a decrease of 190 RMB/ton or 3.47% compared to October 27, 2023 (reference price of diethylene glycol was 5,473.33 RMB/ton).

Analysis review

This week (10.28-11.3), the focus of the domestic diethylene glycol market has declined. During the week, international crude oil was first strong and then weak, and the cost side still provided some support to the market. Ports were still congested, with only some deliveries last weekend. After that, inventory at the main port continued to decline, and the shipment volume at the port this week slightly decreased. The operator's mentality was average, lacking positive support, and the market adjusted to be weak. As of the close of Thursday, the spot price in the East China market closed at 5,260-5,270 RMB/ton.

Market outlook

At present, international crude oil prices are unstable and lack substantial driving force. The fundamentals of diethylene glycol are not under pressure, and the market continues to operate in a weak state. The mentality of the industry is lower, and downstream demand is mainly in demand. The traditional peak season has passed, and it is difficult to have a centralized stock situation. Diethylene glycol analysts from SunSirs believe that the short-term domestic diethylene glycol market is still dominated by weaker adjustments.

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