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SunSirs: From August 1, the Propylene Glycol Market Were Running Upwards as a Whole (August 1-23)

August 24 2022 09:58:33     SunSirs (John)

Price trend

According to the monitoring data of SunSirs, as of August 23, 2022, the average ex-factory price of domestic industrial-grade propylene glycol was 8,966 RMB/ton, compared with the price on August 1, 2022 (the ex-factory reference price of propylene glycol was 7,716 RMB/ton), the price was raised by 1,250 RMB/ton, or 16.02%.

Analysis review

It can be seen from the data monitoring chart of SunSirs that since August (8.1-8.23), the overall domestic propylene glycol market has shown an upward trend. In the first week of August, the propylene glycol market had a slight downward movement, the downstream demand was cautious, the transmission was slow, and the propylene glycol factories were mainly shipped at profit-cutting. On August 8, the ex-factory price of propylene glycol was 7,366 RMB/ton, down 4.54% in the first week. After the small-scale stocking in the downstream, the inventory of propylene glycol in the field was digested, and with the support of low inventory, the propylene glycol market has been running slightly warmer since the 9th. With good export performance, the propylene glycol market rose sharply in mid-August. On the 15th, the reference price of the ex-factory price of propylene glycol was around 8,733 RMB/ton, an increase of more than 13% in half a month. In late August, the propylene glycol market continued to run at a high level and on the strong side, and export orders were mainly delivered on-site. Near the end of the month, on the 22nd, some propylene glycol factories raised the ex-factory price of propylene glycol again, by 200-400 RMB/ton. As of August 23, the domestic ex-factory price of propylene glycol was around 8,966 RMB/ton, an increase of more than 16% in August. At present, factories are mainly delivering export orders, and downstream demand is mostly purchasing on demand.

On the upstream side of propylene oxide, the recent (8.15-8.21) propylene oxide market is stable and weak. Recently, the market price of raw material propylene fell in a narrow range, and the cost support was limited. At the beginning of last week, there was no pressure on the inventory in the northern market, while the supply in the southern market was abundant, and the orders on the demand side were flat. As downstream demand continued to be deserted, market shipments turned weak, downstream purchases were cautious, and prices were stable and loose. On the 19th, the mainstream price of propylene oxide in Shandong's propylene oxide market was around 9,100-9,200 RMB/ton.

Market outlook

At present, the propylene glycol market mostly maintains a high level of consolidation, the downstream demand is mostly just demand, and the transaction of new orders is average. The propylene glycol data engineer of SunSirs believes that in the short term, the domestic propylene glycol market is mainly adjusted and operated in multiple ranges, 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 fee l free to contact SunSirs with support@sunsirs.com

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