Price trend

According to monitoring data from SunSirs, as of March 8, 2024, the reference price for diethylene glycol in the domestic market was 5,150 RMB/ton, an increase of 66.67 RMB/ton or 1.31% compared to March 2, 2024 (reference price for diethylene glycol was 5,083.33 RMB/ton).

Analysis review

This week (2.18-2.23), the domestic diethylene glycol market first rose and then fell with narrow fluctuations. Last weekend, there was a significant increase in port inventory. This week, the number of ports was limited, and inventory remained on a downward trend. However, there were still many expected shipments and high domestic operating loads. Pressure from the supply side remained, and downstream factory orders were average (the operating rate of the unsaturated resin industry was 33%, stable compared to last week and 2% lower than the same period last year.). There was still no substantial improvement in the demand side, and market sentiment remained under pressure. Prices were mainly weak and consolidating. As of March 8th, the closing price in East China was between 5,150-5,160 RMB/ton, and in South China, it was between 5,240-5,250 RMB/ton.

Market outlook

The number of ships arriving over the weekend was relatively high, and inventory is expected to return to a high point at the beginning of next week. The weak fundamentals pattern remained a bearish sentiment in the market, and the execution volume of domestic maintenance plans was relatively limited. It is difficult to change the expectation of a weakening of diethylene glycol. After the end of the Two Sessions, downstream demand in the north will steadily recover, and it is expected that the capacity utilization rate of the domestic unsaturated resin industry will rebound. Analysts from SunSirs Diethylene Glycol believe that it is difficult to see a clear market trend in the short term, or it may fluctuate and consolidate first, and prices will continue to change with changes in demand.

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