The recent poor performance of diethylene glycol is due to concerns about rising inventories on the one hand: it is expected that ports will still be dominated by inventory accumulation; on the other hand, the listing of ethylene glycol futures The intensity of speculation has weakened, and there are concerns about delays in listing, so large investors may change their holding structure. Due to the strong shipping mentality of traders and the weakening of electronic trading, the diethylene glycol market continues to be weak.
At present, the diethylene glycol market has stabilized at a low level. After experiencing a sharp decline in the early stage, a small amount has recovered. However, after experiencing continuous declines, the confidence of most market participants has been frustrated, and the market has upward momentum. Insufficient, maintaining a narrow range, seeking support around 6,400 yuan/ton in East China, and seeking a weak rebound in the short term. At the end of this trading day, in line with the electronic trading pull, the spot price in East China rose to around 6,500-6,520 yuan/ton, and the excessively low price was reduced. On the whole, the recovery of downstream demand is less than expected, and the surrounding areas of North China have entered a strict environmental inspection cycle ahead of schedule. The increase in demand in some areas may encounter new obstacles. The delay in the launch of the main product ethylene glycol has made the market sentiment weak.
Diethylene glycol analysts believe that short-term diethylene glycol prices will remain weak.
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