SunSirs: The Market Price of PEG Was Stable (April 16-23)
April 26 2024 10:46:14 SunSirs (John)
Price trend
Recently, the PEG market had been operating steadily. According to the Commodity Market Analysis System of SunSirs, as of April 23, the average quoted price of PEG 400 by enterprises was 7,750.00 RMB/ton, which was basically unchanged compared to last Tuesday's price.
Analysis review
Recently, the raw material ethylene oxide had been operating steadily at a high level, with stable cost support. Downstream industries such as cosmetics, pharmaceuticals, chemical fibers, rubber, plastics, etc. had stocked up on demand before holidays, and market transactions had been orderly. The industry was mainly wait-and-see, and the market atmosphere was stable.
Upstream ethylene oxide: According to the commodity market analysis system of SunSirs, on April 22, the reference price of ethylene oxide was 7,000.00 RMB/ton, which was unchanged from April 1. The downward transmission of costs was not smooth, and the price of ethylene oxide remained stable, providing stable support for the PEG market.
Upstream ethylene glycol: According to the commodity market analysis system of SunSirs, the reference price of ethylene glycol on April 22 was 4,490.00 RMB/ton, a decrease of 0.52% compared to April 1 (4,513.33 RMB/ton). Since April, ethylene glycol has been operating weakly and with limited support for the PEG market.
Market outlook
According to PEG analysts from SunSirs, the short-term raw material ethylene oxide may continued to affect the market. Downstream orderly stocking before the holiday was expected, and the market atmosphere was still good. It is expected that PEG prices will remain stable in the short term, and more attention should be paid to market news guidance.
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