Morning Market Update: Diethylene Glycol

I. Key Points

1. Both the US and Iran stated that negotiations and dialogue are ongoing, easing market concerns; however, hurricane impacts continued to suppress US crude oil production, leading to a rise in international crude oil prices.
2. This week, the average operating rate of domestic unsaturated polyester resin (UPR) plants was 28%, a decrease of 5% from the previous period.
3. On October 8, total shipments from two storage zones in Zhangjiagang amounted to 428 tons. As of now, combined inventory at Changjiang International and Fubao terminals stands at 7,900 tons.

Core Logic: Inventory levels rose due to vessel arrivals; traders remained active after the holiday, with downstream users gradually entering the market.

II. Price Table

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 CNY/ton.
3. All CNY prices in the table above are cash ex-warehouse inclusive of VAT.
4. Change rate refers to the period-over-period percentage change.

III. Market Outlook

According to Chempricehub news on October 10: Before the concentrated arrival of vessels scheduled for mid-month, diethylene glycol (DEG) is likely to exhibit an oscillating pattern within a range. Traders are selling steadily, while downstream participation is gradually increasing. The trend of bulk commodities has limited impact on this specific market.

Legend:

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