Price trend

According to the monitoring data of SunSirs, as of August 19, 2022, the domestic market price of diethylene glycol was 4,830 RMB/ton, compared with August 15, 2022 (the reference price of diethylene glycol was 5,110 RMB/ton), the price was lowered 280 RMB/ton, a decrease of 5.48%.

Analysis review

It can be seen from the data monitoring of SunSirs that this week (8.15-8.19), the overall market price of diethylene glycol showed a weak decline. At the beginning of the week, the diethylene glycol market did not change much, and the overall situation was weak and consolidating. In the middle of the week, due to the double pressure of the increase in the supply side and the weak downstream demand, starting from the 17th, the diethylene glycol market was downward under pressure and the market was weak and difficult to change. The center of gravity dropped all the way, and the price difference between the high and low prices widened. As of August 19, the market price of diethylene glycol was around 4,590-5,100 RMB/ton, with a drop of more than 5% in the week. As of the 19th, the trading atmosphere in the diethylene glycol market was general, the confidence of the industry was frustrated, and the negative sentiment in the market was strong.

Market outlook

At present, the demand side has limit supported for diethylene glycol, and whether it can usher in periodic stocking after the price reaches a low point is also the key to leading the market trend. The data engineer of Diethylene Glycol of SunSirs believes that in the short term, the diethylene glycol market is mostly weak and consolidating. Specifically, it is necessary to pay more attention to the trend of international crude oil and the news changes on the supply and demand side.

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