SunSirs: This Week, the Diethylene Glycol Market Fluctuated Downward Slightly (June 10-16)

Price trend

According to monitoring data from SunSirs, as of June 16, 2023, the reference price of diethylene glycol in the domestic market was 5,183.33 RMB/ton, down 100 RMB/ton, or 1.89%, compared with the price on June 2, 2023 (the reference price of diethylene glycol was 5,283.33 RMB/ton).

Analysis review

It can be seen from the commodity market analysis system of SunSirs that this week (6.10-6.16), the domestic diethylene glycol market was weakly adjusted and the decline slowed down. This week, the fundamentals of the diethylene glycol market gradually appeared weak, the port inventory rebounded slightly, the terminal delivery performance was poor, and the number of arrivals in late of the month was large, the supply side performance was weak, the follow-up of downstream demand remained weak, the market mentality was general, after the price fell to the low level in the year, the willingness to continue to decline was weakened, at the same time, the buying of gas recovered, and the price was mainly settled out at low levels. As of this weekend (June 16), the domestic market price of diethylene glycol was around 5,150-5,200 RMB/ton.

Market outlook

The fundamental weakness of diethylene glycol appeared. The overhaul of large units will gradually come to an end. The domestic supply will increase in the future. In addition, there will be a large number of imported cargoes arriving at the port in late June. The inventory may be slowly accumulated, and the supply side support is weaker. The downstream UPR industry is gradually entering a seasonal off-season, and short-term demand is weak and difficult to improve. Diethylene glycol analysts from SunSirs believe that under the situation of weak demand fundamentals, in the short term, diethylene glycol market mostly will maintain a volatile trend, lacking good news to boost, and the price is not easy to rise. Pay attention to macro, inventory, and terminal shipping situation.

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