For the Quarter Ending June 2023

North America:

Triethylene Glycol prices experienced a decline of nearly 5% during the second quarter of 2023. Despite the overall market being bullish, driven by declining prices of upstream ethylene oxide, the demand from the plasticizers segment remained largely absent among consumers. This was despite a cooling of inflation by approximately 0.6% and an appreciation of the Consumer Price Index (CPI) by over 2 points. The depreciating prices of feedstock ethylene oxide contributed to eased production costs. However, ample production coupled with underutilized demand led to a significant accumulation of inventories. These excess inventories needed to be sold at negotiable prices. Global economic conditions also worsened, resulting in low demand from international buyers. Fortunately, the supply chain remained intact, ensuring a consistent flow of inventory in the region. Demand remained weak both domestically and internationally. By the conclusion of the second quarter of 2023, the final prices of triethylene glycol declined and eventually stabilized at USD 876/MT FOB Houston.

APAC:

Triethylene Glycol prices experienced a bearish trend throughout the second quarter of 2023, with reported declines of over 6%. The depreciation was amplified by a nearly 18% drop in upstream ethylene oxide prices, which consequently eased production costs. The downstream dehumidifying and disinfectant industry faced low demand due to the economic uncertainty, which dampened purchasing activities. Similarly, the downstream packaging and polyurethane industry displayed subdued demand, impacting Triethylene Glycol prices as it is a byproduct of mono and diethylene glycol. The existence of ample inventories in the face of weak demand led to significant inventory accumulation that had to be sold at discounted prices, further driving down the commodity's prices. The economic slowdown in China likely contributed to the decline in commodity prices, with an anticipated decline in the Consumer Price Index (CPI). Towards the end of the second quarter of 2023, Triethylene Glycol prices declined before stabilizing at USD 1028/MT CFR Qingdao.

Triethylene Glycol Prices: https://www.chemanalyst.com/Pricing-data/triethylene-glycol-1532

Europe:

In the European market, Triethylene Glycol prices followed a bearish trend throughout the second quarter of 2023, experiencing declines of approximately 5%. This was attributed to the decline in upstream ethylene oxide prices by over 4% and sluggish demand from the food packaging industries. Recessionary conditions in Europe led to a negative outlook on consumer purchasing activities. Although production costs eased due to the declining upstream costs, demand for monoethylene and diethylene glycol was largely absent due to poor performance in the plasticizer and polyurethane industries. This further impacted Triethylene Glycol prices. Rising inflation, recorded at over 6%, along with a decrease in the Purchasing Managers' Index (PMI) to 38.8, the lowest since May 2020, added to the unfavorable market sentiment among suppliers. Triethylene Glycol prices were reported to be declining before stabilizing at USD 1374/MT FD Hamburg by the end of June 2023.



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