I. Key Points
There is still no sign of de-escalation in the US–Iran conflict, and the Houthis continue to pressure Saudi Arabia; supply risks keep mounting and international crude oil prices continue to rise.
This week, the average operating rate of domestic unsaturated polyester resin (UPR) plants was 32.5%, unchanged from the previous period.
On 9 September, total shipments from the two Zhangjiagang storage terminals reached 252 tonnes, an increase of 118 tonnes from the previous day. As of now, combined inventories at Changjiang International and Vopak stand at 3,000 tonnes (0.3万吨).
Core logic: Continued instability in the US–Iran situation keeps international crude oil prices rising; DEG is under pressure, with demand driving a one-sided market.
II. Price Table
| Product | Region/Unit | Previous Price | Current Price | Change Rate | |
|---|---|---|---|---|---|
| Crude Oil | WTI | USD/bbl | 96.05 | 102.48 | 6.69% |
| Brent | USD/bbl | 101.21 | 107.63 | 6.34% | |
| Products | Styrene | Domestic, East China | 10,225 | 10,675 | 4.40% |
| MEG | Domestic, East China | 6,761 | 6,990 | 3.39% | |
| DEG | Domestic, East China | 9,680 | 9,685 | 0.05% | |
| Remarks: | |||||
| 1. All product prices refer to national-standard premium-grade material. | |||||
| 2. Crude oil is quoted in USD/bbl; the other three products are quoted in RMB, unit: RMB/tonne. | |||||
| 3. All RMB prices above are ex-works, cash-payment, tax-inclusive prices. | |||||
| 4. The change rate is the percentage change versus the previous period. |
III. Market Outlook
Chempricehub news, 11 September: Although imports are lacking this month, domestic supply is relatively stable and domestic output can cover current demand. The market is undergoing a new round of supply–demand assessment; DEG has recently been moving weakly and steadily, with market participants tracking demand changes ahead of the two upcoming holidays.
DEG Basic Data
| Data Type | Previous | Current | Change Rate | Week Ahead Forecast |
|---|---|---|---|---|
| Port inventory | 0.43 | 0.33 | -23.26% | ↗ |
| UPR operating rate | 33.0% | 33.0% | 0.00% | → |
| Polyester operating rate | 75.01% | 73.39% | -2.16% | ↗ |
| 1. ↓↑ denotes large fluctuations; data dimensions with changes exceeding 3% are highlighted. | ||||
| 2. ↗↘ denotes narrow fluctuations; data with changes within 0–3% are highlighted. |
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