Price trend

According to monitoring data from SunSirs, as of August 30, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 8,600 RMB/ton. Compared with August 1 (propylene glycol reference price 7,766), the price increased by 966 RMB/ton, an increase of 10.73%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that in August, the overall upward trend of the domestic propylene glycol market ended. In early August, the propylene glycol market initially experienced a slight decline and then began a broad upward trend. On August 2nd, some propylene glycol factories narrowly lowered the price of propylene glycol by around 100 RMB/ton, resulting in a slight decline in the propylene glycol market. At the beginning of the month, some propylene glycol plants were shut down, and the supply of propylene glycol in the field was reduced. The spot was tight, and the factory supply was no pressure, which supported the center of the propylene glycol market constantly moving towards the high-end. As of August 15th, the domestic propylene glycol market price was around 9,100 RMB/ton, with an increase of 17.17% in early August.

In late August, the overall upward momentum of the propylene glycol market was insufficient. As the propylene glycol market price continued to rise, the wait-and-see sentiment on the market gradually became stronger. Downstream new orders were traded on a wait-and-see basis, and the trading atmosphere on the market weakened compared to the previous period. The overall support provided by the demand side was loosened. Starting from August 21, the propylene glycol market price began to fall, and factories lowered the propylene glycol factory price. The overall focus of the propylene glycol market was moving downwards, as of August 30, the domestic market price of propylene glycol was around 8,500-8,800 RMB/ton.

Market outlook

As of August 30th, the trading atmosphere of propylene glycol on the market was light, downstream procurement was on demand and stocking was relatively cautious. New order negotiations on the market were weak, and the propylene glycol data analyst from SunSirs predict that in the short term, the domestic propylene glycol market will mainly adjust in a narrow range. 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.