SunSirs: This Week, the Diethylene Glycol Market Rose Narrowly (July 1-7)

Price trend

According to the monitoring data of SunSirs, as of July 7, 2023, the reference price of diethylene glycol in the domestic market was 4,850 RMB/ton, up 100 RMB/ton or 2.11% compared with the price on June 30, 2023 (the reference price of diethylene glycol was 4,750 RMB/ton).

Analysis review

It can be seen from the commodity market analysis system of SunSirs that the domestic diethylene glycol market rose in a narrow range this week (7.1-7.7). This week's fundamental changes were limited, with the market consolidating at low levels, and expectations for future supply growth remained. The market's mentality was cautious. In terms of supply, port shipments remained smooth during the week, with vessel arrivals offset and port inventory remaining low and fluctuating (as of July 6th, the inventory of East China's main port was 30,900 tons, a decrease of 5,100 tons or 14.17% from 36,000 tons on June 29th). In terms of demand, at present, the downstream unsaturated polyester market is in the seasonal off-season. Under the suppression of high temperature weather and the plum rain season in East China, the factory's operating load remains low. The manufacturer's demand for diethylene glycol is light, and the gas buying on the site is general, and just needs to follow up. As of July 6, the spot price of diethylene glycol in East China market was 4,810-4,830 RMB/ton.

Market outlook

At present, the fundamentals of diethylene glycol are still weak. Domestic maintenance devices have been restarted in succession. The expectation of domestic supply increment in the future is clear. After its participation in the market, the downstream follow-up situation needs further judgment, and the supply side support is weak. The downstream unsaturated polyester market has a seasonal off-season, and short-term demand is weak and difficult to improve. Diethylene glycol analysts from SunSirs believe that under the current situation of weak demand fundamentals, the short-term diethylene glycol market may maintain low range operation, lack of good news to boost, and lack of motivation for upward adjustment. At the same time, continue to pay attention to macro news, inventory, and port shipments.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.