SunSirs: This Week, the Diethylene Glycol Market Rose First and Then Fell (April 8-14)

Analysis review

From the commodity market analysis system of SunSirs, it can be seen that this week (4.8-4.14), the diethylene glycol market rose first and then fell. At the beginning of the week, due to the downstream stock at the end of last week, the port shipment data was good, the demand was strong, and the arrival of ships was limited. The port inventory fluctuated at a low level. In addition, there was a device parking in China, the supply was tight, which was positive for the market obviously, the market mentality was improved, the market mentality was boosted, and the focus of negotiations had strengthened. The international oil price was running at a high level, and the cost support was stronger. The market price of diethylene glycol in China had steadily increased. As of April 11, the market price of diethylene glycol was around 8,000-8,100 RMB/ton. In the middle of the week, the recent stock up in the downstream had basically ended, the acceptance of high prices had decreased, the intention to follow up in the market had slowed down, the market mentality was unstable, and the price of diethylene glycol had dropped slightly. As of April 14th, the reference price for diethylene glycol in the market was around 7,700-7,800 RMB/ton.

Market outlook

As of April 14th, the price of diethylene glycol was sorted out at high levels, and the overall trading activity on the market decreased. However, the inventory fluctuated at low levels, and the tight supply still supported the market. According to the analysis of diethylene glycol from SunSirs, the market is stronger in shock in the short term. In the long run, with the restart of maintenance equipment and an increase in supply, the sustained upward momentum may be limited. Continue to monitor device operation, port inventory, and downstream follow-up.

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