Market Overview: According to the bulk list data of Business Society, as of June 2, 2023, the reference price of diethylene glycol in the domestic market was 5983.33 yuan/ton, a decrease of 716.67 yuan/ton, or 10.70%, compared to the price on May 26, 2023 (reference price of 6700 yuan/ton for diethylene glycol).

From the commodity market analysis system of the Business Society, it can be seen that this week (5.27-6.2), the diethylene glycol market experienced a broad decline. This week, international oil prices first fell and then rose, showing fluctuations, and the impact of cost on the diethylene glycol market is limited. The total number of arrivals to the port during the week is relatively large, and the downstream construction level is relatively low. The initial follow-up efforts are average, and the demand cannot be consumed during the cycle. The inventory increase in the main port is significant, and the mentality of the operators is weakening. The focus of negotiations has decreased significantly. The addition of 1 million tons/year EO/EG devices in Sanjiang has recently produced qualified products, increasing market supply pressure and weak market adjustment, resulting in a strong wait-and-see atmosphere in the market. As of this weekend (June 2), the domestic diethylene glycol market price is around 5800-6000 yuan/ton.

Prediction: In the short term, due to the pressure from the economic downturn, crude oil will still not reduce, and there may be insufficient support for diethylene glycol due to the temporary inability to form a clear operating trend; Although some ships arrive at the port for centralized replenishment, the subsequent arrival volume is limited, and the port inventory fluctuates at a low level. The tight supply situation will continue, and the supply side support will still exist; Terminal demand is weak, and the downstream unsaturated resin market continues to weaken. Currently, the overall capacity utilization rate is 29%, a decrease of 1% compared to the previous cycle. Diethylene glycol analysts from the business community believe that the short-term diethylene glycol market may maintain a weak pattern, specifically focusing on downstream follow-up and the impact of changes in market sentiment.