SunSirs: This Week, the Domestic Diethylene Glycol Market Underwent a Narrowly Weaker Adjustment (October 7-13)
October 16 2023 10:52:21 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of October 13, 2023, the reference price for diethylene glycol in the domestic market was 5,493.33 RMB/ton, a decrease of 106.67 RMB/ton or 1.90% compared to the price on September 28, 2023 (reference price for diethylene glycol was 5,600 RMB/ton).
Analysis review
This week (10.7-10.13), the domestic diethylene glycol market saw a narrow and weaker adjustment. During the National Day Golden Week holiday, international crude oil plummeted and continued to be weak, with commodities generally showing weakness, and diethylene glycol was mainly fluctuating to be weaker affected by this. After the holiday, the port inventory did not meet expectations, the supply side pressure was not high, and the demand performance was relatively stable. The market was mainly influenced by macro factors, and the mentality of the operators was average, the price was mainly adjusted to be weaker narrowly. As of the close of Thursday, the spot price in the East China market closed at 5,460-5,470 RMB/ton.
Market outlook
As of the 13th, there had been a trend of pullback in the raw material end, but its cost logic was limited to the market. As of the 13th, the downstream of diethylene glycol was mainly stable, with no incremental demand, and the fundamental fluctuations were balanced. SunSirs' diethylene glycol analysts believe that the short-term diethylene glycol market is still mainly adjusted within a narrow range.
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