SunSirs: The PEG Market Was Generally Stable (March 18-22)
March 27 2024 14:11:44 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of March 22, the average quoted price of PEG 400 by enterprises is 7550.00 RMB/ton, which is unchanged from Monday's price.
Analysis review
The PEG market is generally stable this week. In terms of raw materials, since mid March, the upstream price of ethylene oxide has slightly increased, providing strong support for the PEG market. The downstream industry's demand has followed average, and the enthusiasm for inquiry and procurement is flat. New orders in the market are mainly in demand, and holders have a positive attitude towards shipping.
Cost side:
Upstream ethylene oxide: According to the commodity market analysis system of SunSirs, the reference price of ethylene oxide on March 22 was 6900.00, an increase of 1.47% compared to March 1 (6800.00). Recently, the supply side of the ethylene oxide market has shrunk, and the market is operating at a high level, providing stable support for the PEG market. Short term support may still exist.
Upstream ethylene glycol: According to the commodity market analysis system of SunSirs, the reference price of ethylene glycol on March 22 was 4528.33, a decrease of 1.66% compared to March 1 (4605.00), which provides limited support for the PEG market.
Market outlook
According to PEG analysts from SunSirs, short-term cost support may continue, while supply and demand support is average. It is expected that the PEG market will remain stable in the short term, and more attention needs to be paid to the trend of upstream ethylene oxide.
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