According to the bulk list data of Business Society, as of January 31, 2024, the reference price for diethylene glycol in the domestic market was 5660 yuan/ton, a decrease of 6.67 yuan/ton or 0.12% compared to the price as of December 31, 2023 (reference price for diethylene glycol is 5666.67 yuan/ton).

From the data monitoring of Business Society, it can be seen that in January, the domestic diethylene glycol market first fell and then rose, showing an overall fluctuating pattern in a range. In the first half of January, the number of ships arriving at the port was concentrated and large. The surplus in December and the goods of this month were interspersed into the port and warehouse. During the off-season of demand, the downstream could not consume all of the ship’s cargo, resulting in a clear increase in inventory. The positive supply in the early stage dissipated, and although there was no obvious bearish trend leading to a decline, the operators still handled this change with caution. Under the guidance of supply and demand logic, the mentality of the operators fell, and the weak range of diethylene glycol in the East China market fluctuated narrowly. After the middle of the month, downstream stocking began, and the shipment volume exceeded the expectations of the industry to a certain extent. Under the guidance of demand logic, the influence of concentrated delivery weakened, and market sentiment was optimistic. Holding merchants reported an increase in prices. In the latter half of the year, the changes in supply and demand were limited, with narrow fluctuations in main port inventory. The overall demand for stocking remained stable, and the market sentiment was mainly affected by shipping conditions. Prices fluctuated within a range of 100 yuan, but with downstream factories gradually stopping for holidays and expectations of weak demand, the market sentiment was cautious. As of the close on the 31st, spot prices in East China closed at 5650-5670 yuan/ton, while spot prices in South China closed at 5790-5810 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.