Price trend
According to monitoring data from SunSirs, as of September 1, 2023, the reference price for diethylene glycol in the domestic market was 5,400 RMB/ton, an increase of 50 RMB/ton or 0.93% compared to the price on August 25, 2023 (reference price for diethylene glycol was 5,350 RMB/ton).
Analysis review
This week (8.26-9.1), the domestic diethylene glycol market fluctuated and operated in a range, with the overall performance of the market being calm and the price fluctuation being relatively small. The operation of domestic devices was stable, in the early stage of the large-scale market for start-up equipment, there was a concentration of port to ship shipments, and there was a significant accumulation of inventory in the main port. However, the increase in supply did not have a significant impact on the market. The performance of port shipments was relatively stable, and overall demand was flat, with no positive news on the fundamentals. Supply and demand were deadlocked, and the market sentiment was on the sidelines. The market trend was relatively calm, and the overall trading atmosphere was average. As of August 31, Jiangsu spot prices closed at 5,310-5,330 RMB/ton, while South China spot delivery prices closed at 5,400-5,450 RMB/ton.
Market outlook
Recently, the operation of domestic devices was stable, and there will still be a large number of ships arriving at the port in the next week. The inventory was still accumulating, and the supply side provided limited market support; In terms of demand, after entering September, the main downstream unsaturated resin industry had gradually entered the peak season of Golden September, with expectations for incremental demand. As of September 1st, the supply and demand side remained deadlocked, and the diethylene glycol market may experience narrow fluctuations. Future demand expectations may be optimistic, and prices may be adjusted stronger. The market is waiting for demand guidance.
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