SunSirs: This Week, the Domestic Diethylene Glycol Market Fluctuated Upwards (January 13-19)

Price trend

According to data from SunSirs, as of January 19, 2024, the reference price of diethylene glycol in the domestic market was 5,800 RMB/ton, an increase of 100 RMB/ton or 1.75% compared to January 12, 2024 (reference price of 5,700 RMB/ton).

Analysis review

This week (1.13-1.19), the domestic diethylene glycol market fluctuated upwards. A large amount of cargo arrived within the week, causing inventory in the main port to first decrease and then increase. Downstream stocking demand had opened up, and the shipment volume exceeded the expectations of the industry to a certain extent. The demand logic was oriented towards a weakened impact of concentrated arrival in the second half of next week. Market sentiment was optimistic, and the prices of cargo holders were pushing up. Buying sentiment was still good, and the market had continued to rise. As of Thursday's close, spot prices in the East China market closed at 5,820-5,830 RMB/ton; The spot price in the South China market closed at 5,830-5,850 RMB/ton.

Market outlook

This round of arrivals was mostly for spot replenishment, with an increase in total shipments from the two storage areas. With the same increase in supply and demand, the East China market for diethylene glycol had risen strongly, and the replenishment market was relatively obvious. At the end of the week, it might consume the sustained increase during the week, with a strong trend remaining unchanged. Before the completion of downstream stocking, it is mostly demand oriented, and the impact of centralized arrival at ports is limited. According to analysts from SunSirs, there is not much change in demand in the short term, and the judgment of future demand by the industry may start to feedback to the market from next week. The overall trend is expected to form a range of fluctuations before falling, and diethylene glycol will change with the demand.

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