Price trend

According to monitoring data from SunSirs, as of August 10, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 8,433 RMB/ton. Compared with August 6 (reference price of propylene glycol 7,700 RMB/ton), the price increased by 733 RMB/ton, an increase of 9.52%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that this week (8.6-8.10), the domestic propylene glycol market as a whole saw a broad upward trend. During the week, the supply side of propylene glycol in China was tight, and the sales of propylene glycol manufacturers had no pressure. New orders were traded well on the market, and the spot propylene glycol was tight. The operators had a good mentality. The upward trend in the raw material propylene oxide market also provided support for the cost of propylene glycol. Therefore, with the support of supply and demand as well as cost, the center of the propylene glycol market continued to rise, with a price increase of around 500 to 800 RMB/ton during the week. As of August 10th, the domestic propylene glycol market price was referenced around 8,300 to 8,500 RMB/ton, while the higher end price was referenced around 8,800 RMB/ton.

Market outlook

As of August 10th, the trading atmosphere in the propylene glycol market was good, and there was still effective support on the market. It is expected that in the short term, the domestic propylene glycol market will mainly operate stably at a high level overall, and more attention needs to be paid to the changes in supply and demand news.

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