Market Overview: According to the bulk list data of Business Society, as of February 2, 2024, the reference price of diethylene glycol in the domestic market was 5650 yuan/ton, a decrease of 80 yuan/ton or 1.40% compared to January 27, 2024 (reference price of diethylene glycol was 5730 yuan/ton).
This week’s market situation: The domestic diethylene glycol market fluctuated and declined this week (1.27-2.2). The atmosphere of the Spring Festival is strong, and the domestic diethylene glycol market has experienced a narrow decline this week. The number of arrivals to the port within the week is average, with low inventory fluctuations. Downstream stocking has ended, and the shipment volume has decreased significantly. Downstream unsaturated resin factories have concentrated their holidays this week, resulting in a significant decline in production. Polyester production has also decreased to a certain extent. Market trading sentiment has cooled down, prices have fluctuated and declined, and the negotiation atmosphere has weakened, with few transactions. As of the close of this Thursday, Jiangsu spot prices closed at 5640-5660 yuan/ton, a decrease of 90 yuan/ton compared to the previous period; The delivery price of spot goods in South China closed at 5710-5720 yuan/ton, a month on month decrease of 150 yuan/ton.
Market forecast: Currently, the main downstream unsaturated resins are mostly shut down, and there is a slight demand for polyester polyurethane during the pre holiday consolidation stage. The lower reaches of South China have basically closed, and the transactions of the holders have come to a close; The demand margin in the East China market is insufficient, and operators are waiting for the market to close, and trading sentiment will gradually cool down. However, the current supply of diethylene glycol is stable, and the supply and demand structure is loose. According to analysts from Shengyishe, the recent trend of domestic diethylene glycol spot prices has loosened, and there is further room for market pressure to fall back.