Price trend

According to monitoring data from SunSirs, as of July 25, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 7,800 RMB/ton. Compared with July 1 (reference price of propylene glycol 7,166), the price increased by 667 RMB/ton, an increase of 8.84%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that since July (7.1-7.25), the overall domestic propylene glycol market showed a "first decline and then rise" trend. In early July, the propylene glycol market was generally weaker and slightly declining, cost side was high and provided some cost support for propylene glycol. However, downstream demand performance was poor and demand was dragging down. In the early stages of July, the propylene glycol market was mainly declining. As of July 15th, the domestic propylene glycol market price was referenced around 7,000-7,300 RMB/ton, and the high price was referenced around 7,500 RMB/ton.

In late July, the domestic propylene glycol market as a whole experienced a rebound, with some propylene glycol plants being shut down for maintenance. The on-site supply of propylene glycol decreased, and the spot circulation was tight. The supply was tight and prices were good, and the propylene glycol market began to rise strongly. The market center was moving upwards. As of July 25th, the domestic propylene glycol market price was around 7,700-7,900 RMB/ton, with a 10.38% increase in late July.

Market outlook

As of July 25th, after the propylene glycol market rose to a relatively high level, the wait-and-see sentiment on the market became stronger, downstream stocking became more cautious, and the trading atmosphere on the market was relatively mild. 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 narrow range, and the specific trend still needs to pay more attention to changes in supply and demand news.

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