Price trend

According to monitoring data from SunSirs, as of May 10, 2024, the reference price of diethylene glycol in the domestic market was 5,600 RMB/ton, an increase of 80 RMB/ton or 1.45% compared to May 5, 2024 (reference price of diethylene glycol was 5,520 RMB/ton).

Analysis review

This week, the focus of the domestic diethylene glycol market had risen. The pre holiday downstream stocking atmosphere had led to a slight increase in the market. During the holiday period, there was a concentration of ships arriving at the port, and after the holiday, there was a significant increase in inventory at the main port. However, the number of ships arriving this week and next week was limited, and the temporary shortage at the port was clear. As a result, the focus of diethylene glycol trading continued to shift upwards, and demand follows relatively steadily. The supply and demand side had slightly improved, and the overall market mentality was still good. The market operation was strong, and prices were steadily rising. As of May 9th, the closing price in East China was between 5,580-5,590 RMB/ton, while the closing price in South China was between 5,760-5,780 RMB/ton.

Market outlook

As of May 10th, business owners had a general grasp of downstream and tended to view it as routine stocking. The market maintained an upward trend, and the increase in demand determined the upper limit of the increase. According to analysts from SunSirs, if downstream demand is sustained well, the short-term market is expected to continue to maintain an upward trend. Continue to monitor downstream demand.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.