Market Overview: According to the bulk list data of Business Society, as of June 7, 2024, the reference price of diethylene glycol in the domestic market was 5485 yuan/ton, an increase of about 10 yuan/ton or 0.18% compared to May 31, 2024 (reference price of diethylene glycol was 5475 yuan/ton).
Market situation: This week, the domestic diethylene glycol market fluctuated within a certain range. The number of arrivals within the week is around 10000 tons, and there has been a certain increase in inventory at the main port. Some devices have plans to restart, and supply support is weak. Downstream unsaturated resin production is weak and stable, polyester load is declining, overall demand remains weak, industry participation is limited, and there is a lack of favorable news to boost. The market trend is somewhat stagnant, and prices fluctuate within a narrow range. As of June 7th, the closing price in East China was between 5490-5500 yuan/ton, while the closing price in South China was between 5620-5640 yuan/ton.
Market forecast: Currently, the supply and demand logic dominates the market, with ships unloading and entering the warehouse during the holiday season. A relatively significant increase in inventory can be seen after the holiday. The sustainability of the follow-up of the main downstream unsaturated resin needs to be verified, and the market’s weak expectations remain unchanged. Business Society’s diethylene glycol analyst believes that in the short term, diethylene glycol will fluctuate and continue to monitor downstream follow-up.
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