Asia DEG prices rise on falling port inventories; weak demand may place a cap

摘要

SINGAPORE (ICIS)--Asian spot diethylene glycol (DEG) prices increased amid falling port inventories, but the overall weak demand may put a cap on further price rise. Offers trended higher following a week-on-week decline of 6.1% in China’s port inventories, and rising domestic prices also exerted upward pressure on the import market. Domestic prices in China rose by yuan (CNY) 70-100/tonne on a weekly basis to CNY3,220/tonne ex- tank east China on 31 July, according to ICIS.