SunSirs: Diethylene Glycol Prices Fell Weakly (October 25-28)

　　Price trend

　　According to data from SunSirs, the market price of diethylene glycol fell this week. On October 28, the average market price of diethylene glycol was 7,033 RMB/ton, a decrease of 120 RMB/ton or 1.68% from last Friday.

　　Glycol prices fell weakly this week, and Sinopec’s East China ex-factory price was lowered by 200 RMB/ton.

　　Analysis review

　　As of October 25, the total inventory of diethylene glycol in the main ports of East China was 12,500 tons, a decrease of 3,500 tons from last Friday, a decrease of 21.88%.

　　At present, Dushanzi Petrochemical’s 60,000-ton/year diethylene glycol production unit has been shut down for maintenance, and the maintenance plan is for a period of one month. PetroChina Northeast Jilin Petrochemical’s diethylene glycol production line is operating at low load. The Yanshan Petrochemical Plant has been operating normally.

　　Market outlook

　　This week, the diethylene glycol market declined weakly, the supply side was still tight, and the unloading of imported goods at the terminals progressed slowly. There is no obvious improvement on the demand side, and low-volume and rigid-need orders are still the mainstay. The operating rate of UPR downstream of diethylene glycol is currently stable at 35%. Affected by the policy, ethylene glycol continues to drop, coupled with the decline in crude oil, the high price of diethylene glycol fell. It is expected that the short-term diethylene glycol market may be adjusted weakly.