Price trend
According to the monitoring data of SunSirs, as of February 22, 2023, the market price of domestic industrial grade propylene glycol was 8,966 RMB/ton. Compared with February 1 (the reference price of propylene glycol was 8,066 RMB/ton), the price increased by 900 RMB/ton, or 11.16%. On February 22, the domestic market price of propylene glycol was around 8,800-9,300 RMB/ton.
Analysis review
It can be seen from the data monitoring chart of SunSirs that from February to date (2.1-2.22), the overall domestic propylene glycol market had shown a steady upward trend. The main driving force supporting the continuous rise of the propylene glycol market was mainly from the joint support of raw material cost, on-site supply side inventory and demand. Let's look at the supply, cost and demand of propylene glycol from February.
In terms of cost: the market of propylene oxide as raw material kept rising, the support given by the cost of propylene glycol kept increasing, and the focus of the propylene glycol market kept going upward.
In terms of supply: domestic propylene glycol pre-holiday maintenance devices had been started in succession, and some factories mainly delivered early export orders, so the overall inventory of propylene glycol in the field was relatively controllable.
Demand: In February, the downstream demand for propylene glycol in China was gradually released. After the digestion of some downstream raw materials, the demand for propylene glycol market performed well at the stage, and the overall demand gave some support for propylene glycol market.
Market outlook
With the gradual warming of the weather, the downstream demand of the terminal will gradually recover, and the propylene glycol field operators have expectations. The propylene glycol statistician of SunSirs believes that in the short term, the domestic propylene glycol market will mostly continue to run at a high level, and the specific trend needs to pay more attention to the changes of the information on the supply and demand side.
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