SunSirs: The Domestic Propylene Glycol Market Was Running Weakly after the Holiday

Price trend

During the week, ethylene glycol rebounded slightly. According to data from SunSirs, on May 7, the average price of oil-based ethylene glycol was 4,975 RMB/ton, an increase of 100 RMB/ton compared with the previous statistical cycle.

Analysis review

It can be seen from the data monitoring chart of SunSirs that after returning from the May 1st Labor Day, the domestic propylene glycol market was generally weak and running. On the 5th, some propylene glycol factories in Shandong slightly lowered the ex-factory price of propylene glycol by around 200 RMB/ton, while other factories kept their pre-holiday quotations steady. On the 6th, the propylene glycol market was weak, and the market fluctuations were limited. The downstream demand for propylene glycol after the holiday was average, and the trading atmosphere was calm. On the 7th, some propylene glycol suppliers adjusted the price of propylene glycol slightly downward again, with an adjustment range of 100-200 RMB/ton around. As of May 7, the domestic ex-factory price of propylene glycol was around 11,000-11,500 RMB/ton, and the atmosphere in the propylene glycol market was mostly flat, and buying was relatively cautious.

The upstream propylene oxide returned after the holiday, and the domestic propylene oxide market was running up. According to the data monitoring of SunSirs, on May 6, the reference price of propylene oxide was 11,633.33 RMB/ton, an increase of 2.05% compared with May 1 (11,400 RMB/ton).

Market outlook

The downstream demand of the propylene glycol market is mainly based on rigid demand, and the upward movement of raw material propylene oxide gives propylene glycol a certain cost support. The propylene glycol data engineer of SunSirs believes that in the short term, the domestic propylene glycol market is mostly stable, and the specific trend needs to pay more attention to the basic changes in supply and demand and the follow-up of new orders.

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