SunSirs: Propylene Glycol Market Fell with the Sharp Drop in Raw Material PO

Price trend

According to the monitoring data of SunSirs, as of November 5, the ex-factory price of domestic propylene glycol was around 9,100 RMB/ton. Compared with November 1, the average price was reduced by 233 RMB/ton, a drop of 2.50%; Compared with October 1, the average price was lowered by 66 RMB/ton, a drop of 0.73%.

Analysis review   

Raw materials fell and support weakened. Propylene glycol market fell weakly

Entering November, the overall domestic propylene glycol market has fallen weakly. Affected by the sharp drop in the raw material propylene oxide, the support for the cost of propylene glycol has gradually weakened. At present, factory inventory is normal, and downstream purchases are still in demand. The export aspect has improved slightly but it is not enough to support the continued high price of propylene glycol. Some propylene glycol factories have cut prices and low-end quotations have emerged on the market. At present, the overall domestic propylene glycol market has fallen slightly. The overall trading atmosphere in the market is weak, and wait-and-see sentiment increases.

On the upstream side, starting from November, the domestic propylene oxide market continued to fall sharply. According to data from SunSirs’ bulk list, as of November 5, the average price of propylene oxide companies was 16,466.67 RMB/ton, a decrease of 1,300 RMB/ton or 7.14% compared with November 1. At present, the market has a strong wait-and-see sentiment, and the industry operates cautiously.

Market outlook

At present, the overall market trend is trending downward. The industry is more cautious and wait-and-see. The downstream rigid demand is the mainstay. The propylene glycol data analyst of SunSirs believes that the propylene glycol market may continue to be weak in the short term and adjust operations within a narrow range.

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