SunSirs: The Price of PEG in the Market Was Stable, and Downstream Procurement Was on Demand
April 18 2024 13:44:31 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of April 17th, the average quoted price of PEG 400 by enterprises was 7,750.00 RMB/ton, which was basically unchanged compared to last Wednesday (April 10th).
Analysis review
Recently, the PEG market had remained stable. The raw material ethylene oxide operated stably, with strong cost support. The downstream pharmaceutical and daily chemical industries had relatively stable demand. In downstream textile and other industries, customers mainly purchased on demand, while holders maintained a wait-and-see operation and shipped according to market conditions. On April 17th, in the South China market, some imported PEG400 prices were quoted between 7,800-8,000 RMB/ton.
Upstream ethylene oxide: According to the commodity market analysis system of SunSirs, the reference price of ethylene oxide on April 16th was 7,000.00 RMB/ton, which was the same as April 1st. Recently, ethylene oxide had been operating steadily at high levels. As of April 17th, the utilization rate of ethylene oxide production capacity was around 60%, and the demand was average. The support for the PEG market was still strong.
Upstream ethylene glycol: According to the commodity market analysis system of SunSirs, the reference price of ethylene glycol on April 16th was 4,485.00 RMB/ton, a decrease of 0.63% compared to April 1st (4,513.33 RMB/ton), which provided moderate support for the PEG market.
Market outlook
The PEG analyst from SunSirs believes that the cost side was stable at a high level, and the market traded on demand. It is expected that the fluctuation of PEG prices may be limited in the short term, and more attention should be paid to market news guidance.
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