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SunSirs: Supported by Raw Materials, Propylene Glycol Rose Slightly and Then Was Sorted and Operated (March 05-08)
March 09 2023 13:53:32SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of March 8, 2023, the reference market price of domestic industrial propylene glycol was 9,666 RMB/ton. Compared with March 5 (the reference price of propylene glycol was 9,566 RMB/ton), the price increased by 133 RMB/ton, or 1.41%.

Analysis review

It can be seen from the data monitoring chart of SunSirs that this week (3.05-3.08), the overall domestic propylene glycol market rose slightly and then stabilized and condsolidate. At the beginning of the week (March 6), supported by the high level of raw materials, the overall domestic propylene glycol market rose slightly again, with a price increase of around 100-200 RMB/ton. In the middle of the week, due to the recent high level of propylene glycol market, the wait-and-see mood increased, the new orders were carefully traded, the demand follow-up was loosened, the propylene glycol lacked power to continue to rise, and the market as a whole entered a stable consolidation operation. As of March 8, the domestic market price of propylene glycol was around 9,500-9,700 RMB/ton.

Market outlook

As of the 8th, the overall demand for propylene glycol on the market had a weakening trend, but benefited from the support of the high level of raw materials and the relatively controllable inventory at the supply side, the overall state of mind on the market was good. The propylene glycol statistician of SunSirs believes that in the short term, the domestic propylene glycol market will mostly be stable with small adjustments, and the specific trend needs to pay more attention to the information changes on the supply and demand side.

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

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