SunSirs: The Focus of the Domestic Diethylene Glycol Market Shifted Upward Overall This Week (September 2-8)
September 08 2023 13:45:15 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of September 8, 2023, the reference price for diethylene glycol in the domestic market was 5,483.33 RMB/ton, an increase of 50 RMB/ton or 0.92% compared to the price on September 1, 2023 (reference price for diethylene glycol was 5,433.33 RMB/ton).
Analysis review
This week (9.2-9.8), the overall focus of the domestic diethylene glycol market was upward, and the overall performance of the market was not surprising, with a relatively small increase in prices. The overall domestic diethylene glycol market had risen this week, the number of port arrivals was concentrated and the inventory accumulation in the main port was significant. However, the increase in inventory had not had a significant impact on the market. The number of port shipments was almost the same as last week, and the overall demand performance was relatively stable. The market lacked news guidance, and the operators had a mild and cautious attitude. The price increase was the main trend overall, and the trading atmosphere was average. As of September 7th’s close, the spot price in the East China market closed at 5,450-5,480 RMB/ton.
Market outlook
Recently, the operation of domestic devices has been stable, and downstream demand has remained high. The arrival of ships has been vacant in the past two days, and the inventory at the port has decreased. There are currently no bearish factors on the fundamentals, and the high international oil prices have loosened, but support remains stable. In the near future, diethylene glycol maintains an upward oscillation, and sustained guidance still needs to be awaited
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