The diethylene glycol market experienced a strong and volatile trend last week, with the closing price at East China ports reaching 3,225 yuan per ton on Friday. Diethylene glycol broke away from its bottom and moved upward, but there were no structural changes in the fundamentals, and actual effective support was insufficient. The market lacked clear new directional guidance. In the latter part of the month, supply at major ports is expected to increase, leading most industry participants to adopt a cautious outlook on the market.

Fundamental Analysis:
Supply: As of January 11, the inventory at Vopak was 7,400 tons, while the inventory at Changjiang International was 28,600 tons.
Demand: Terminal demand remained moderate, with the average operating rate of domestic unsaturated resin plants at 39%, up by 3%. Traders faced pressure in selling their goods. From January 9 to 11, the total shipment volume of diethylene glycol from the two warehouse areas in Zhangjiagang was 3,770 tons, with a daily average shipment of 1,257 tons over the weekend.
Cost: Geopolitical tensions in regions such as Russia-Ukraine and Iran-Israel continue to create uncertainty, sustaining short-term potential supply risks and driving up international oil prices.

Market Outlook: International crude oil is expected to remain weak, while diethylene glycol is likely to fluctuate within a range. The fundamental structure has not yet shifted, and downstream buyers are making appropriate follow-up purchases. Short-term fluctuations are expected to remain within a range, with subsequent attention to the arrival and unloading of large vessels at ports.