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SunSirs: In October, the Diethylene Glycol Market Rose as a Whole (October 1-28)
October 31 2022 14:22:50SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of October 28, 2022, the domestic market price of diethylene glycol was 5,600 RMB/ton, which was increased by 407 RMB/ton, or 7.83%, compared with October 1, 2022 (the reference price of diethylene glycol was 5,193 RMB/ton).

Analysis review

It can be seen from the data monitoring of SunSirs that the diethylene glycol market had been rising as a whole since October (10.1-10.28). In early October, after the National Day holiday, the diethylene glycol market ushered in a broad upward trend. There were two main factors supporting the rise of the market focus of diethylene glycol. In terms of cost, the high rise of raw material ethylene glycol after the festival gave diethylene glycol cost support. In terms of supply, the low volume of goods in the diethylene glycol warehouse area after the festival gave support to the diethylene glycol market due to the tight supply side. As of October 19, the market price of diethylene glycol was around 5,550-5,650 RMB/ton.

In the middle and late October, the downstream's acceptance of high prices decreased, and the diethylene glycol market fell slightly, but the fundamentals were good and continued to support the market. From the 24th, the diethylene glycol market was strong and rising again. The diethylene glycol market price was around 5,600-5,800 RMB/ton. However, near the end of the month, the diethylene glycol market price fell slightly due to the decline of crude oil and the reduction of shipments.

As of October 28, the market price of diethylene glycol was around 5,500-5,700 RMB/ton, exceeding 7% in October. As of the 28th, the trading atmosphere in the diethylene glycol market was general, and the actual orders were mainly negotiated according to the quantity.

Market outlook

At present, the trading and investment atmosphere in the diethylene glycol market is slightly weak, and the supply and demand transmission is general. The diethylene glycol data engineer of SunSirs believes that in the short term, the diethylene glycol market will mostly adjust its operation in a narrow range, and the specific trend needs to pay more attention to the changes in the information on the supply and demand side.

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

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