Price trend

According to the monitoring data of SunSirs, as of April 27, 2023, the reference market price of domestic industrial propylene glycol was 8,733 RMB/ton, which was 367 RMB/ton higher than that of April 1 (8,366 RMB/ton), an increase of 4.38%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that since April (4.1-4.27), the overall domestic propylene glycol market had shown an upward trend. In early April, the domestic propylene glycol market steadily rose and operated. At the beginning of the month, the overall supply of propylene glycol in the plant was tight, some devices in the plant were shut down for maintenance, and the tight spot circulation supported the steady upward gathering of the center of gravity of the propylene glycol market. As of April 15, the domestic propylene glycol market price was near 8,600-8,700 RMB/ton, and the price at the high end was near 9,000 RMB/ton, with an increase of 3.19% in early April. In late April, the rise of the propylene glycol market slowed down, and downstream demand averagely boosted propylene glycol. Trading was light, and the overall propylene glycol market remained stable and consolidated. Towards the end of the month, there was a slight pre holiday stocking in the downstream, and some propylene glycol factories increased their shipments. The price of propylene glycol was slightly increased, with an increase of around 100-200 RMB/ton. As of April 27, the domestic propylene glycol market price was around 8,500-8,800 RMB/ton, and the high end price was around 9,000 RMB/ton.

Market outlook

As of the 28th, the trading atmosphere of propylene glycol on the market was average, and the overall changes between the supply and demand sides were not significant before the holiday. Downstream stocking was almost at an end. According to the propylene glycol data analyst of SunSirs, in the short term, the domestic propylene glycol market is mainly stable and consolidating, and the specific trend still needs to pay more attention to the changes in news on the supply and demand side.

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