SunSirs: The Domestic Diethylene Glycol Market Fluctuated within a Range (June 1-7)
June 11 2024 15:23:10 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of June 7, 2024, the reference price of diethylene glycol in the domestic market was 5,485 RMB/ton, an increase of about 10 RMB/ton or 0.18% compared to May 31, 2024 (reference price of diethylene glycol was 5,475 RMB/ton).
Analysis review
This week, the domestic diethylene glycol market fluctuated within a certain range. The number of arrivals within the week is around 10,000 tons, and there has been a certain increase in inventory at the main port. Some devices have plans to restart, and supply support is weak. Downstream unsaturated resin production is weak and stable, polyester load is declining, overall demand remains weak, industry participation is limited, and there is a lack of favorable news to boost. The market trend is somewhat stagnant, and prices fluctuate within a narrow range. As of June 7th, the closing price in East China is between 5,490-5,500 RMB/ton, while the closing price in South China was between 5,620-5,640 RMB/ton.
Market outlook
At present, the supply and demand logic dominates the market, with ships unloading and entering the warehouse during holidays, and relatively significant inventory increases can be seen after holidays. The sustainability of the follow-up of the main downstream unsaturated resin needs to be verified, and the market's weak expectations remain unchanged. SunSirs' diethylene glycol analyst believes that in the short term, diethylene glycol will fluctuate and continue to monitor downstream follow-up.
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