Market overview: According to the data of the bulk list of the business agency, as of February 9, 2023, the market reference price of diethylene glycol was 5316.67 yuan/ton, down 143.33 yuan/ton or 2.63% compared with the price of February 2, 2023 (5460 yuan/ton).

It can be seen from the data monitoring of the Business Agency that the domestic diethylene glycol market continued to adjust downward this week. At present, the market price range in East China is dominated by consolidation, and the delivery from the reservoir area is relatively stable, with the price at 5320 yuan/ton. The market adjustment in South China is downward, and the downstream demand has not yet fully recovered, and there is resistance to the high price. The carrier lowers the price at 5450 yuan/ton. This week, the speech of the Federal Reserve eased the concern of interest rate increase and boosted the market atmosphere. At the same time, affected by the earthquake in Türkiye, the supply of crude oil in some countries was blocked. International oil prices fell first and then rose, with strong support at the cost end. From the perspective of supply, as of February 6, 2023, the inventory of East China Port was about 44100 tons, an increase of 4800 tons compared with the inventory of last week (39300 tons), with an increase of 12.21%. The overall inventory changed little, and the supply side performed generally; From the perspective of demand, the downstream unsaturated resin started relatively low, the factory has not yet fully started, and the demand is still recovering gradually, which shows that the demand side is weak and difficult to change. On the whole, the support at the cost side is relatively strong, the supply side performs generally, and the demand side is still weak, so the market price of diethylene glycol continues to decline.

At present, the crude oil market is dominated by the supply side. It is expected that the international crude oil price will rise first and then fall next week, and the cost side support will be weak; Although the port inventory goes to the warehouse slowly, the quantity of goods shipped by yards has increased, the market mentality has been boosted, and the downstream factories have gradually increased the load. Before the year, there is little inventory left, and the demand will speed up the recovery process. According to the diethylene glycol analyst of the business agency, the domestic diethylene glycol market is basically guided by the change of demand at present. Although the support at the cost side is insufficient, the short-term market price range is expected to fluctuate with the gradual increase of demand, focusing on the demand increment.