Market overview: According to the data of the bulk list of the business agency, as of February 2, 2023, the market reference price of diethylene glycol was 5460 yuan/ton, down 223.33 yuan/ton or 3.93% compared with the price of January 28, 2023 (5683.33 yuan/ton).
It can be seen from the data monitoring of the business agency that the overall domestic diethylene glycol market fell sharply this week. At present, the market price in East China is 5200 yuan/ton, and that in South China is 5450 yuan/ton. The US crude oil inventory has increased for six consecutive weeks, the supply of marine oil in a European country has increased, the export is strong, and the main central bank is raising interest rates soon ▪ With the pressure on oil prices, OPEC+maintained its output policy unchanged, the international oil price fell as a whole, and the cost-side support weakened. In terms of supply, the port shipment is low, the inventory is high, and the market supply is not short. As of January 30, 2023, the inventory of East China port is about 39300 tons, an increase of 5800 tons compared with last week, an increase of 67.23%; From the perspective of demand, this week is the first trading week after the return of the Spring Festival holiday. Most downstream factories have not restarted, the demand recovery is slow, the purchase of gas is insufficient, the quantity of goods taken downstream is poor, the market is sporadic, and the market mentality is cautious. In general, the support at the cost side is weak, the inventory at the supply side is high, and the demand side has no positive support for the time being, so the market price of diethylene glycol continues to decline significantly after the holiday.
At present, the crude oil market is dominated by the supply side. It is expected that the international crude oil price will fluctuate and fall next week, and the support at the cost side will still be weak. The superimposed market supply will not be short, the inventory will be high, and the supply side will be affected by the supply side. However, from the demand side, after the Lantern Festival next week, downstream factories will start in succession, and those that have already started will also gradually increase the load. The resumption mode after the year will be officially opened, and the downstream demand will gradually increase. In general, The support at the cost side is insufficient, and the supply side is affected by negative effects, but the demand may gradually recover. The diethylene glycol analyst of the business agency believes that the current domestic diethylene glycol market is basically guided by the change in demand, and it is expected that the price of the diethylene glycol market will fluctuate slightly next Tuesday.