Price trend

According to the monitoring data of SunSirs, as of May 26, 2023, the reference market price of domestic industrial propylene glycol was 8,200 RMB/ton, which was 533 RMB/ton lower than that of May 1 (8,733 RMB/ton), a decline of 6.11%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that since May (5.1-5.26), the overall domestic propylene glycol market showed a weak and declining trend. In early May, after Labor Day, the domestic propylene glycol market was operating to be weaker, with some propylene glycol factories reducing prices narrowly, driving the overall market to slightly decline. The cost of raw materials provided some cost support for propylene glycol, and the decline in the propylene glycol market was limited. However, suppressed by the loosened demand side, the effective support in the propylene glycol market was insufficient, and the center of gravity of the propylene glycol market was moving downward all the way. As of May 26, the domestic propylene glycol market price was around 8,000-8,300 RMB/ton. Compared with the beginning of the month, the price had dropped by about 300-600 RMB/ton, down more than 6%. There was a strong wait-and-see sentiment on the propylene glycol market, and the market atmosphere was average.

Market outlook

As of May 26th, the new orders in the propylene glycol market were light, and the mentality of the industry was average. Downstream that was in needed mainly replenished in cautious, and discussions between the supply and demand sides were the main focus. There was a certain atmosphere of concern in the market. The propylene glycol data analyst of SunSirs believes that in the short term, the domestic propylene glycol market is mainly subject to narrow adjustment and operation, and the specific trend still needs to pay more attention to the changes in supply and demand news.

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