Market overview: According to the data of the bulk list of the business agency, as of February 16, 2023, the market reference price of diethylene glycol was 5376.67 yuan/ton, up 43.34 yuan/ton or 0.81% compared with the price of February 9, 2023 (5333.33 yuan/ton).

It can be seen from the data monitoring of the business agency that the domestic diethylene glycol market has a narrow range this week, and the delivery of goods from the ports in East China is good and stable, with a strong intention to follow up the offer. Up to now, the spot price and this week’s negotiation price are at 5350-5360 yuan/ton. The market in South China is affected by the trend of the market in East China, and the price of the holders has been slightly increased. Up to now, the mainstream spot price is around 5550-5600 yuan/ton. This week, the international oil price rose as a whole, and the cost side support was strong. From the perspective of supply, the main port kept good delivery and the recent shipping schedule gap, and the inventory continued to decline. As of February 13, 2023, the inventory of East China port was about 40800 tons, down by 3300 tons from last week, down by 7.48%. As of February 16, 2023, the total inventory of the two warehouses in Zhangjiagang reservoir area was 39000 tons, down by 2100 tons from last week. On the whole, the performance of diethylene glycol supply side was fair; From the perspective of demand, the commencement of unsaturated resin in the downstream increased slightly this week, and the demand for diethylene glycol remained stable, so there was some support on the demand side. In general, the cost side support is relatively strong, the supply and demand fundamentals support is relatively stable, and the market price continues to rise.

East China Port Arrival Schedule this week and next week

At present, the crude oil market returns to the basic guidance, and it is expected that the international crude oil price will fluctuate and fall, and the cost support of diethylene glycol will be weak; Although the port inventory is stable, the next arrival volume is large, and the expected restart of a 280000 ton unit of Wuhan Petrochemical next week, the domestic output increases, the supply side performance is poor, and in the short term, the downstream unsaturated resin manufacturers are mainly operating at a low level, so the demand for diethylene glycol is difficult to significantly increase. The diethylene glycol analyst of the business agency believes that the cost side support is insufficient, the supply side is affected by the negative impact, and the demand is relatively stable, The short-term market price of diethylene glycol has the possibility of a narrow decline.