Price trend

According to monitoring data from SunSirs, as of December 21, 2023, the reference market price of domestically produced industrial grade propylene glycol was 8,333 RMB/ton. Compared with December 14 (reference price of propylene glycol was 8,116 RMB/ton), the price increased by 217 RMB/ton, an increase of 2.67%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that the domestic propylene glycol market had shown an overall upward trend in recent times. The factors that support the narrow upward trend of the propylene glycol market were mostly from the supply side. On the one hand, after entering December, the overall operating rate of the domestic propylene glycol market was at a low level, and some on-site devices were shut down for maintenance. With the slow shipment of propylene glycol, on-site supply was gradually tightening, and the supply side provided some support to the market. Some factories had less supply pressure, so they raised the price of propylene glycol by 100-200 RMB/ton. On the other hand, starting from mid December, some regions had seen an improvement in propylene glycol export orders. The increase in export orders had also eased the overall supply pressure of propylene glycol, and exports had provided market support. The increase in export orders had also driven some domestic demand enthusiasm, and the overall downstream orders of propylene glycol had also been boosted. As of December 21st, the domestic propylene glycol market price was around 8,200-8,500 RMB/ton.

Market outlook

As of December 21st, the overall trading atmosphere in the propylene glycol market had been mild, with an overall upward trend in the market. The mentality of the industry had improved compared to the previous period. According to the propylene glycol data analyst from SunSirs, in the short term, the domestic propylene glycol market will mainly operate steadily with a slightly stronger trend, and the specific trend still needs to pay more attention to changes in supply and demand news.

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