SunSirs: This Week, the Domestic Diethylene Glycol Market First Rose and Then Fell (December 16-22)
December 25 2023 11:12:28 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of December 22, 2023, the reference price for diethylene glycol in the domestic market was 5,810 RMB/ton, an increase of 40 RMB/ton or 0.69% compared to December 15, 2023 (reference price for diethylene glycol was 5,770 RMB/ton).
Analysis review
This week's market situation: The domestic diethylene glycol market rose first and then fell this week (12.16-12.22), with an overall strong trend. During the week, some pre arrival shipping schedules were delayed, the number of port arrivals was limited, and the main port inventory remained low and fluctuating. Tight supply still provided some support to the market, and demand performance continued to be weak. However, downstream follow-up efforts were generally stable, and the market mentality was still acceptable. The market adjustment was not significant, and prices remained strong, with high range fluctuations. As of Thursday's close, spot prices in the East China market closed at 5,790-5,810 RMB/ton; The spot price in the South China market closed at 5,910-5,930 RMB/ton.
Market outlook
As of the 22nd, the main downstream (UPR) orders had increased, but the sustainability was not good. The overall shipment volume remained constant, and the impact of international oil price changes on diethylene glycol was limited. The current market basic logic had not changed, and the port was in a slight destocking process until the end of the month. The proportion of market sentiment was slightly warmer. SunSirs' diethylene glycol analyst believes that in the short term, the market price of diethylene glycol remains stronger and mainly fluctuates in the range, continuing to follow changes in downstream demand.
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