Price trend

According to the Commodity Market Analysis System of SunSirs, as of March 19th, the average quoted price of polyethylene glycol 400 by enterprises was 7,550.00 RMB/ton, which was unchanged from last Thursday (March 14th).

Recently, the polyethylene glycol market had continued to operate steadily, with no significant price changes. In recent times, there had been strong support for the market in terms of costs, with downstream water reducing agent markets mainly following steadily. Industries such as printing and dyeing and daily chemical products purchased just on demand, and market transactions were orderly.

Cost side:

Upstream ethylene oxide: According to the commodity market analysis system of SunSirs, on March 18th, the reference price of ethylene oxide was 6,900.00 RMB/ton, an increase of 1.47% compared to March 1st (6,800.00 RMB/ton). In mid March, the market price of ethylene oxide increased, providing support for the polyethylene glycol market. As of March 19th, some equipment maintenance and short-term supply side support still exists, and downstream mainly follows up on demand. The support for the polyethylene glycol market may still be stable.

Upstream ethylene glycol: According to the commodity market analysis system of SunSirs, the reference price of ethylene glycol on March 18th was 4,560.00 RMB/ton, a decrease of 0.98% compared to March 1st (4,605.00 RMB/ton), which provided moderate support for the polyethylene glycol market.

Market outlook

According to polyethylene glycol analysts from SunSirs, short-term cost support is still strong, and downstream enterprises tend to make essential purchases based on their own situation. It is expected that the polyethylene glycol market will remain stable in the short term, and more attention should be paid to the trend of upstream ethylene oxide.

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