SunSirs: Cost Support Was Stable and the Price of PEG Was Stable
April 09 2024 15:46:22 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of April 7th, the average quoted price of PEG 400 by enterprises was 7,550.00 RMB/ton, which was unchanged from the beginning of the month.
Analysis review
Since April, the PEG market had continued to operate steadily. The cost side had a significant impact on the PEG market. Recently, upstream ethylene oxide had been operating at a high level, and the cost side still provided support for the PEG market. The downstream demand for PEG was widely used, and the overall performance of the demand side was relatively stable, with a focus on following up on rigid demand. The supply and demand side had general support for the market.
Cost side:
Upstream ethylene oxide: According to the commodity market analysis system of SunSirs, on April 5th, the reference price of ethylene oxide was 7,000.00 RMB/ton, which was unchanged from April 1st. Recently, the ethylene oxide market had been operating at a high level, with cost support and supply reduction in some regions, supporting the mentality of enterprises to raise prices, and providing strong support for the PEG market.
Upstream ethylene glycol: According to the commodity market analysis system of SunSirs, the reference price of ethylene glycol on April 5th was 4,520.83 RMB/ton, an increase of 0.17% compared to April 1st (4,513.33 RMB/ton), which provided sufficient support for the PEG market.
Market outlook
According to PEG analysts from SunSirs, the short-term high cost support is stable, and the overall downstream demand may still continue to be in demand. Business owners tend to adopt a wait-and-see attitude with the market, and it is expected that the PEG market will remain stable in the short term. More attention should be paid to the trend of upstream ethylene oxide.
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