According to the bulk list data of Business Society, as of November 30, 2023, the reference price for diethylene glycol in the domestic market was 5550 yuan/ton, an increase of 110 yuan/ton or 2.02% compared to the price on October 31, 2023 (reference price for diethylene glycol is 5440 yuan/ton).

From the data monitoring of Business Society, it can be seen that in October, the domestic diethylene glycol market first fell and then rose, establishing its own market in the overall trend. The fundamental changes in diethylene glycol have been limited this month, and the overall market sentiment is average without clear guidance. In the first half of the month, the market was weak and volatile, with international crude oil falling one after another. The cost side provided limited support to the market, with some cargo concentrated at the port and port inventory increasing narrowly. However, the overall supply pressure is not high, and demand follow-up is relatively stable. However, the arriving cargo market is worried about an increase in supply, and the sentiment of operators is not high, resulting in weak and volatile markets. In the middle of the month, the market saw a narrow upward trend, with cargo arriving at the port in stages and a significant increase in port inventory. However, the overall supply pressure was not high, downstream demand remained flat, and the number of port shipments increased. The mentality of operators was mild, and the market saw a narrow upward trend. However, there was still a lack of upward momentum, and the space for price increases was limited; In the second half of the month, the market’s focus increased, and the concentrated arrival at the port ended. The subsequent arrival quantity was limited, and inventory decreased mainly. The sentiment of the industry gradually improved, and there was strong bullish sentiment on the market, causing market volatility to rise. As of the close on the 30th, spot prices in East China closed at 5610-5630 yuan/ton, while spot prices in South China closed at 5680-5690 yuan/ton.

Currently, the operation of domestic and foreign facilities is relatively stable, and it is difficult to see significant changes in port inventory. There is still some support on the supply side. From a demand perspective, the demand for downstream unsaturated resins and polyester markets may continue to remain stable, with limited expected incremental market demand. Business Society’s diethylene glycol analyst believes that the domestic diethylene glycol market may maintain a volatile trend in December, and the follow-up and maintenance of demand is the key to market adjustment. In addition, attention should also be paid to the impact of macro factors.