Diethylene glycol trading slows despite rising crude oil prices

I. Key Points

1. Market attention is focused on the potential escalation of US-Iran conflicts, while Houthi attacks on Saudi Arabia have intensified supply risks, leading to a rise in international crude oil prices.
2. The average operating rate of domestic unsaturated polyester resin (UPR) plants this week was 35%, an increase of 0.5% from the previous period.
3. On October 29, total shipments from two tank farms in Zhangjiagang amounted to 644 tons, a decrease of 374 tons compared to the previous day. As of now, combined inventory at Changjiang International and Fubao tank farms stands at 9,200 tons.

Core Logic: International crude oil prices remain high; trading volume for diethylene glycol (DEG) has slowed down. Although one vessel cargo entered storage at main ports, the increase in inventory remains limited.

II. Price List

Notes:

1. All product prices refer to National Standard Premium Grade.
2. Crude oil prices are in USD/barrel; other three products are priced in RMB, unit: Yuan/ton.
3. All RMB prices listed above are ex-warehouse, cash-inclusive, tax-inclusive prices.
4. Change rate refers to the period-over-period change.

III. Market Outlook

According to Chempricehub news reported on November 2: One vessel cargo will enter storage this Monday, leading to a slight narrow-range increase in inventory at main ports. Downstream demand will enter a phase of constant rigid demand, which will be reflected in weekly shipment data. In early November, DEG prices may adjust downward into a certain decline range.

Legend:

1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow-range fluctuation, highlighting data with changes within 0–3%.