Price trend

According to the Commodity Market Analysis System of SunSirs, as of May 17th, the average quoted price of PEG 400 by enterprises was 8,225.00 RMB/ton, a decrease of 0.60% compared to Monday's price.

Analysis review

The price of PEG in the market fluctuated slightly this week. Recently, the market price of raw material ethylene oxide had decreased, and cost support had become loose. Downstream industries such as pharmaceuticals and daily chemical products were mainly buying according to demand, and the market transaction atmosphere was average. Business owners had a strong wait-and-see attitude, and holders can flexibly adjust their quotations based on their own inventory situation.

Upstream ethylene oxide: On May 17th, the factory listing price of ethylene oxide in mainstream markets in various regions of China was lowered, and the ethylene oxide market in East China was executed at 6,900 RMB/ton externally. Upstream ethylene oxide prices had fallen, weakening support for the PEG market.

Upstream ethylene glycol: According to the commodity market analysis system of SunSirs, the reference price of ethylene glycol on May 16th was 4,425.00 RMB/ton, a decrease of 1.26% compared to May 1st (4,481.67 RMB/ton). Since May, the market price of ethylene glycol had slightly declined, showing weak support for the PEG market.

Market outlook

The PEG analyst from SunSirs believes that the market transactions were mainly based on demand, and the short-term cost side may dominate the market. It is expected that in the short term, the price trend of PEG may follow the raw material ethylene oxide, and more attention should be paid to market news guidance.

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