Due to the high inventories in the port and the lack of market demand, the price of Asian diethylene glycol (DEG) has dropped to the lowest in nearly a year, and it may still decline further in the next few weeks. This year, the average price of Asian DEG has fallen by 12.5%.
According to industry sources, China's downstream unsaturated polyester resin (UPR) and polyurethane (PU) industries experienced seasonal downturns, and the majority of UPR production facilities had operating rates of only half. The Chinese government's cooling measures for the real estate industry have also greatly reduced the demand for UPR and PU this year.
In the past two months, DEG inventories in China's large ports have reached 100,000 to 11 million tons, which is about double that of usual. This shows that demand has dropped sharply, while imports are still arriving.
According to industry sources, China's downstream unsaturated polyester resin (UPR) and polyurethane (PU) industries experienced seasonal downturns, and the majority of UPR production facilities had operating rates of only half. The Chinese government's cooling measures for the real estate industry have also greatly reduced the demand for UPR and PU this year.
In the past two months, DEG inventories in China's large ports have reached 100,000 to 11 million tons, which is about double that of usual. This shows that demand has dropped sharply, while imports are still arriving.
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