Price trend

On April 9, domestic diethylene glycol prices experienced a slight pullback; in the mainstream spot market, prices in East China closed at 7,870 RMB/ton—down 70 RMB/ton—while in the South China market, regional supply remained tight and prices held firm, closing at 8,100 RMB/ton.

Fundamental Analysis:

Supply: As of April 6, port inventories of Diethylene Glycol (DEG) in the East China region stood at 34,400 tons, a decrease of 4,300 tons compared to the previous statistical cycle. For the current week (April 7–13), scheduled DEG arrivals at Zhangjiagang are projected at 920 tons; with anticipated arrivals continuing to trend downward, downstream market activity remaining lackluster, and shipments proceeding with relative caution, inventories at major East China ports are expected to continue their decline this week.

Demand: Demand-side performance during the traditional peak season has been lackluster. According to statistics, the average operating rate at domestic unsaturated resin plants stood at 38% this week—an increase of 3.0% compared to the previous period. On April 8, the total shipment volume from the two storage zones in Zhangjiagang amounted to 1,047 tons, representing a decrease of 68 tons from the previous day.

Costs: Crude oil prices have experienced fluctuations. On April8, the United States and Iran announced a temporary ceasefire; as tensions in the Middle East eased, international oil prices retreated sharply from their highs, resulting in a decline in costs. By the close of trading on the afternoon of April 9, domestic Shanghai crude oil futures had fallen to 640. However, the ceasefire agreement between the U.S. and Iran was abrogated almost immediately after being signed, leading to a subsequent rise in international crude oil prices.

Market outlook

With recent arrivals at port running low, East China's major ports are expected to continue drawing down inventories. While prices have continued their upward trajectory, downstream buyers are exhibiting strong resistance. Meanwhile, renewed volatility in the Middle East—following a brief dip—has sent oil prices climbing once again. As overall sentiment in the commodities market weakens and downstream buyers adopt a cautious stance, the diethylene glycol market may face downward pressure and retreat in the short term.

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