Price trend
According to data from SunSirs, on June 24, the average market price of diethylene glycol was 5,800 RMB/ton, a decrease of 1,043.33 RMB/ton from the beginning of the month, a decrease of 15.25%.
This week, the price of diethylene glycol dropped slightly. Sinopec's ex-factory price in North China was lowered by 100 RMB/ton, and Sinopec's ex-factory price in East China was lowered by 150 RMB/ton.
Analysis review
As of this Monday, the total inventory of diethylene glycol in the main ports of East China was 16,444 tons, a decrease of 22,200 tons compared with last Tuesday, a decrease of 12.83%.
The downstream demand was general and the purchasing enthusiasm was not high. Although the price fell within a narrow range, the demand increased slightly, and the wait-and-see mentality was still obvious, the enthusiasm for entering the market was not high, and the on-demand procurement was maintained. The operating rate was basically flat. The upward movement of crude oil prices gave the market a certain degree of support. The increase on the supply side of the market was limited, and the demand side was still slightly flat.
Market outlook
The market price of diethylene glycol was lowered continuously, and there were many negative factors in the market. However, the increase in domestic supply was not as good as expected, and the international crude oil continued to rise sharply. The strong crude oil side drove the collective strength of commodities. Long-short game, in the short term, domestic diethylene glycol may fluctuate within a narrow range.
