According to monitoring data from SunSirs, as of February 7, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7,900 RMB/ton. Compared with February 1, the price remained basically unchanged. Compared with January 1 (reference price of propylene glycol was 8,300 RMB/ton), the price decreased by 400 RMB/ton, a decrease of 4.82%.
From the data monitoring chart of SunSirs, it can be seen that in February, the overall domestic propylene glycol market had shown a stable and organized operation. As of February 7th, there was not much adjustment in the supply side of propylene glycol on-site, and the overall supply pressure in the propylene glycol market was not high. In terms of downstream demand, after entering February, with the gradual suspension of logistics transportation, the overall number of new propylene glycol orders had decreased, but the supply side pressure was still acceptable, and the overall performance of the propylene glycol market was mainly stable. As of February 7th, the domestic propylene glycol market price was based on around 7,800-8,100 RMB/ton.
As of February 7th, the supply pressure of propylene glycol factories was still controllable, and the mentality of operators was cautious and mild. On the market, there was mostly a wait-and-see attitude. According to the propylene glycol data analyst of SunSirs, in the short term, the domestic propylene glycol market will mainly operate stably with small fluctuations, and the specific trend still needs to pay more attention to changes in supply and demand news.
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