Short-term diethylene glycol market expected to be strong and oscillating

The market was slightly adjusted yesterday, the negotiation atmosphere is general, East China market closing price in 6280-6290 yuan/ton near.

The market was in the midst of a recession, with crude oil synchronized with the panic selling of financial assets, and oil prices in Europe and the US closing down on March 13. April WTI: 74.80 down 1.88 or 2.45%; May Brent: 80.77 down 2.01 or 2.43%.

Supply: new domestic devices aggravated by the start of device operation, there is a certain amount of incremental supply. As of now, inventories continue to fall in storage, with two banks at 29,500 tonnes. Shipping situation continues to maintain, Zhangjiagang two depots shipped a total of 4,030 tons, the average daily delivery of about 1,343 tons at the weekend.

Demand: downstream demand has improved, but caution to chase high. The overall capacity utilization rate of domestic unsaturated resin is around 30%.

Forecast: Overall, international oil prices rebounded and the fundamentals of diethylene glycol remained good, and the short-term diethylene glycol market is expected to be strong and oscillating.