Market Overview: According to the bulk list data of Business Society, as of April 3, 2024, the reference price of diethylene glycol in the domestic market was 5470 yuan/ton, an increase of 146.67 yuan/ton or 2.76% compared to March 29, 2024 (reference price of diethylene glycol was 5323.33 yuan/ton).

Market: One week before Qingming Festival, the domestic diethylene glycol market fluctuated widely. There were no ships arriving at the port during the week, and inventory remained low. At the same time, large-scale equipment maintenance was carried out in China. In early April, one set of equipment from Satellite Chemical and Zhejiang Petrochemical each entered a shutdown maintenance state, and supply reduction supported market sentiment. The East China market continued to rise, with significant emotional fluctuations. However, the market lacks clear and sustained effective news guidance, and the stability of the market is weak due to rapid rise and fall. Downstream factories often follow in the middle of changes, with few purchases and high points difficult to sustain. The support level is also difficult to break, and the game nature is evident. The price fell at the end of the week, with the main focus on digesting the increase, and the market fluctuated widely. As of April 3rd, the closing price in East China was between 5470-5490 yuan/ton, while the closing price in South China was between 5620-5630 yuan/ton.

Market forecast: The main downstream unsaturated resin production is stable, but due to the strong trend of the leading raw material styrene, the UPR factory’s procurement of raw materials will continue to be low under high cost pressure. During the Qingming holiday, it is expected that 6300 tons will arrive on board, and there will be no pressure on the increase in port inventory. Top domestic refining companies are implementing maintenance plans, leading to a reduction in domestic supply, and the impact of the news may be more significant. Analysts from Shengyishe Diethylene Glycol believe that the market has a relatively strong grasp of supply and demand in the near future compared to March, and price expectations are expected to rise.