SunSirs: This Week, the Domestic Diethylene Glycol Market Fluctuated within a Range (December 9-15)
December 15 2023 14:57:06 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of December 15, 2023, the reference price for diethylene glycol in the domestic market was 5,770 RMB/ton, a decrease of 80 RMB/ton or 1.37% compared to December 1, 2023 (reference price for diethylene glycol was 5,850 RMB/ton).
Analysis review
This week (12.9-12.15), the domestic diethylene glycol market fluctuated with frequent price fluctuations. The number of port arrivals during the week was limited, with the main port inventory decreasing. The supply side still provided some support to the market, but the demand performance was weak. The downstream follow-up was not sustainable, and the buying follow-up momentum decreased. The overall market sentiment was average, with prices fluctuating in the high range. As of Thursday's close, spot prices in the East China market closed at 5,740-5,760 RMB/ton; The spot price in the South China market closed at 5,830-5,840 RMB/ton.
Market outlook
At the end of the week, there is no significant downward pressure on the main market for diglycol, which may digest the decline first. However, during the off-season of demand, there is a coexistence of bullish and bearish sentiment and a game, and the pattern of market changes and adjustments is not yet clear. The diglycol analyst from SunSirs believes that the short-term diglycol market may maintain fluctuations in a range and continue to follow downstream demand changes.
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