Price trend

According to monitoring data from SunSirs, as of June 26, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 7,200 RMB/ton. Compared to June 1 (reference price of propylene glycol was 8,033 RMB/ton), the price was reduced by 833 RMB/ton a decrease of 10.37%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that since June (6.1-6.26), the overall domestic propylene glycol market showed a weak and declining trend. At the beginning of the month, due to poor downstream demand for propylene glycol and limited follow-up of new orders, propylene glycol shipments were under pressure. Factories began to sell at a discount, and the overall propylene glycol market entered a downward channel. As of June 15, the domestic propylene glycol market price was around 7,300-7,500 RMB/ton a decrease of 3.32% in the first ten days.

In late June, the decline of propylene glycol market continued, the overall market focus continued to move downward, the effective support in the market was insufficient, the supply and demand transmission continued to be blocked, and the overall propylene glycol market continued to decline in weakness. After the Dragon Boat Festival, the decline of propylene glycol market gradually stopped, and the market as a whole entered into consolidation and operation. As of June 26, the domestic propylene glycol market price was near 7,000-7300 RMB/ton with a monthly decline of more than 10%.

Market outlook

As of the 26th, the trading atmosphere on the domestic propylene glycol market was average, downstream purchases were mainly on demand and new orders were cautious. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will mainly adjust and operate in a range, and the specific trend needs to pay more attention to the changes in supply and demand side consumption.

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