Market Overview: According to the bulk list data of Business Society, as of April 21, 2023, the reference price of diethylene glycol in the domestic market was 7766.67 yuan/ton, a decrease of 116.66 yuan/ton or 1.48% compared to the price on April 14, 2023 (reference price of diethylene glycol is 7883.33 yuan/ton).

From the commodity market analysis system of the Business Society, it can be seen that this week (4.15-4.21), the diethylene glycol market experienced high volatility and broad adjustment. During the week, the diethylene glycol market saw an increase in wait-and-see sentiment and a temporary pullback in international crude oil prices. However, as the May Day holiday approached, downstream restocking began, and the number of port shipments once again rose to a high level. On April 20th, the daily shipment volume reached 1960 tons. As of April 20th, the main port inventory fell to the level of 19100 tons. Under the stimulation of high shipments, the market center of gravity rose again. By the end of this week (April 21), the domestic diethylene glycol market price was around 7700-7800 yuan/ton.

At present, as the May Day holiday approaches, there is a significant rebound in port shipments, mainly due to downstream pre holiday restocking demand. However, by the end of April, it is expected that the number of imported ships arriving at the port will be limited. From the current shipment volume, it is expected that the main port inventory will continue to decline in the future, combined with domestic device maintenance and load reduction, resulting in a significant reduction in market supply. Business Society’s diethylene glycol analysts believe that in the short term, the support of diethylene glycol from the supply side will still be strong. At the same time, as downstream restocking activities continue, the overall market atmosphere will strengthen. With multiple positive support, the market may operate stronger. Specifically, it is necessary to pay more attention to the international crude oil trend and changes in market mentality.