Price trend
According to the Commodity Market Analysis System of SunSirs, as of March 14th, the average quoted price of polyethylene glycol 400 by enterprises was 7,550.00 RMB/ton, which was unchanged from last Friday (March 8th).
In recent times, the polyethylene glycol market had been mainly stable, with stable cost support. Downstream water reducing agents and printing and dyeing industries were mainly buying on demand. The daily chemical industry had stable demand, and the overall transaction performance of the market was average. As of March 14th, the reference price for some imported PEG400 in the East China market was 7,700-7,900 RMB/ton, while the reference price for some imported PEG400 in the South China market was 7,800-8,000 RMB/ton.
Cost side:
Upstream ethylene oxide: According to the commodity market analysis system of SunSirs, on March 13th, the reference price of ethylene oxide was 6,800.00 RMB/ton, which was unchanged from March 1st. Recently, upstream ethylene oxide had been operating at a high level, providing strong support for the polyethylene glycol market. The expectation of subsequent equipment maintenance, regional supply or reduction, may continue to support the polyethylene glycol market.
Upstream ethylene glycol: According to the commodity market analysis system of SunSirs, the reference price of ethylene glycol on March 13th was 4,605.00 RMB/ton, which was the same as March 1st, and it still provided sufficient support for the polyethylene glycol market.
Market outlook
The polyethylene glycol analyst from SunSirs believes that the short-term cost side may dominate the market, and market transactions are mainly based on demand. It is expected that the polyethylene glycol market will operate steadily in the short term, and more attention should be paid to the upstream trend of ethylene oxide.
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