Diethylene Glycol Prices Trend | Pricing | Database | Index | News | Chart
Diethylene Glycol Prices Trend | Pricing | Database | Index | News | Chart
North America:
During the first quarter of 2024, the North American Diethylene Glycol (DEG) market experienced significant challenges that drove prices upwards. A bullish market emerged due to a limited supply caused by the closure of several production plants amid severe cold weather. The high demand in the antifreeze sector, driven by freezing temperatures, further fueled price increases. Additionally, fluctuations in raw material costs and strong demand for automobile antifreeze impacted the market.
In the United States, similar factors led to significant price changes. Prices remained stable during the first two months, supported by existing inventory levels meeting downstream demand. However, the final month of the quarter saw a surge in prices due to constrained supply exacerbated by disruptions in freight, particularly from the Red Sea incident. Price adjustments by key players, including Indorama Venture, also influenced market trends.
In summary, the DEG market in North America, particularly in the United States, saw price increases during the first quarter of 2024. Key drivers included heightened demand from downstream industries, fluctuating raw material costs, and increased freight charges. In the US, DEG prices rose by over 14% compared to the same quarter the previous year and by more than 13% compared to the preceding quarter of 2023.
Get Real Time Prices for Diethylene Glycol (DEG): https://www.chemanalyst.com/Pricing-data/diethylene-glycol-66
APAC:
The Diethylene Glycol (DEG) market in the APAC region witnessed steady demand during the first quarter of 2024. The market showed signs of recovery after a decline in the previous quarter, as downstream industries began to increase their demand. Although there were some concerns regarding high stock inventories, the market managed to maintain a moderate level of demand. Volatile crude oil prices impacted the prices of DEG and its derivatives. South Korea, one of the key players in the market, experienced stable supply levels, ensuring uninterrupted production activities. However, logistics freight charges slightly affected the product's price, resulting in a minor decrease in the latter half of the quarter. Despite this, sellers maintained their profit margins due to the limited availability of materials in the region. The top three factors influencing the market during the quarter were the recovery in demand from downstream industries, fluctuating crude oil prices, and limited material availability. Fortunately, no plant shutdowns were reported during this period. DEG prices in South Korea showed an 8% increase compared to the same quarter last year and a slight increase of 12% compared to the previous quarter of 2023.
Europe:
In the first quarter of 2024, the European Diethylene Glycol (DEG) market faced several factors influencing price dynamics. Plant closures led to limited supply, tightening availability, and pushing prices upwards. Multiple shutdowns across the region exacerbated these constraints. Additionally, ongoing geopolitical tensions in the Red Sea area disrupted global trade routes, driving up freight costs and further impacting DEG prices. In Germany, a key player in the European market, DEG trends were bullish. Increased demand from sectors like polyester and polyurethane collided with transportation disruptions caused by strikes and adverse weather conditions. These disruptions, coupled with plant closures, contributed to rising freight charges and logistical complexities, further impacting DEG prices in the country. As a result, the first quarter's price of DEG CFR Hamburg in Germany stood at USD 1150/MT, marking a significant increase compared to the same period the previous year and signaling positive price momentum. In summary, during the first quarter of 2024, the DEG market in Europe faced supply limitations, transportation disruptions (including strikes and adverse weather conditions), and fluctuations in feedstock prices. Germany specifically felt the effects of these factors, influencing the pricing dynamics of DEG in the region.
Get Real Time Prices for Diethylene Glycol (DEG): https://www.chemanalyst.com/Pricing-data/diethylene-glycol-66
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