Price trend

According to monitoring data from SunSirs, as of December 25, 2023, the reference market price of domestically produced industrial grade propylene glycol was 8,300 RMB/ton. Compared with December 1 (reference price of propylene glycol was 8,066 RMB/ton), the price increased by 234 RMB/ton, an increase of 2.89%.

Analysis review

From the monitoring chart of SunSirs’ data, it can be seen that in December, the overall domestic propylene glycol market experienced an upward trend. In the first ten days, the domestic propylene glycol market saw a narrow increase, with an increase of 0.83% in the first ten days. In the later stage, the overall upward trend of the domestic propylene glycol market had relaxed, with a 2.05% increase in late December. As of December 28th, the domestic propylene glycol market price was around 8,200-8,400 RMB/ton.

Analysis of supporting factors for the upward trend of propylene glycol market:

In terms of supply: As entering December, the overall operating rate of the domestic propylene glycol market was low. Due to the continued weak downstream of propylene glycol in the early stage, some factories had delayed the maintenance of propylene glycol equipment. Although downstream demand as average, with the slow shipment of propylene glycol on site, the pressure on the supply side of propylene glycol was gradually decreasing, and supply in some regions was tightening. Therefore, after entering December, the supply side had provided certain support to the propylene glycol market.

In terms of exports: In mid December, the overall export orders for propylene glycol increased, and the improvement in export demand combined with the overall tight supply in the market supported a broad upward trend in the propylene glycol market.

Market outlook

As of December 28th, the overall trading atmosphere in the propylene glycol market had been mild. The mentality of propylene glycol operators was good, and the overall supply side pressure on the market was relatively small. However, after small-scale downstream stocking, demand had weakened. According to the propylene glycol data analyst of SunSirs, in the short term, the domestic propylene glycol market is mainly subject to narrow adjustments, and the specific trend still needs to pay more attention to changes in supply and demand news.

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