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SunSirs: The Propylene Glycol Market Was Weak and Declined This week (May 12-17)
May 18 2023 09:37:20SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of May 17, 2023, the reference market price of domestic industrial propylene glycol was 8,333 RMB/ton, which was 267 RMB/ton lower than that of May 12 (8,600 RMB/ton), a drop of 3.10%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that this week (5.12-5.17), the overall domestic propylene glycol market showed a weak decline. Entering this week, some propylene glycol units in China resumed operation after the maintenance period, supply in the propylene glycol field was sufficient and the support from the supply end was loosened. Some propylene glycol factories had certain supply pressure, the overall improvement of downstream demand was not good, the supply and demand transmission was slow, and the center of gravity of the propylene glycol market kept moving downward under the condition of weak supply and demand support. As of May 17, the domestic propylene glycol market price was close to 8,100-8,500 RMB/ton.

Market outlook

As of May 17th, the overall trading atmosphere in the propylene glycol market was flat, with a strong wait-and-see sentiment on the market. The mentality of the operators was average, and the high level of raw materials brought certain cost pressure to propylene glycol. The possibility of a significant decline in the propylene glycol market was limited, and the overall market tended to operate in a stalemate. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market may mainly adjust and operate within a certain range, and the specific trend still needs to pay more attention to changes in supply and demand news.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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