Price trend
According to monitoring data from SunSirs, as of April 19, 2024, the reference market price for domestically produced industrial grade propylene glycol was 7,666 RMB/ton. Compared with April 14 (reference price for propylene glycol was 7,700 RMB/ton), the price decreased by 34 RMB/ton, a decrease of 0.43%. Compared to April 1st (reference price of propylene glycol at 7,733 RMB/ton), the price has been reduced by 70 RMB/ton, a decrease of 0.86%.
Analysis review
From the data monitoring system of SunSirs, it can be seen that this week (4.14-4.19), the overall domestic propylene glycol market continued to experience a weak decline. During the week, downstream demand for propylene glycol remained weak, with some propylene glycol factories accumulating inventory and overall supply pressure remaining on the premises. In addition, the weak market of epoxy propane on the raw material end had also loosened the cost support for propylene glycol. Therefore, under the pressure of multiple bearish factors, some factories lowered the price of propylene glycol, and the overall focus of the propylene glycol market had once again adjusted downwards, with an adjustment range of around 50-100 RMB/ton. As of April 19th, the domestic propylene glycol market price was based on around 7,500-7,800 RMB/ton.
In terms of cost, the overall epoxy propane market had been declining recently. According to the data monitoring system of SunSirs, on April 19th, the price of epoxy propane was referenced at 9,137.50 RMB/ton, a decrease of 0.55% compared to April 14th.
Market outlook
As of April 19th, the trading atmosphere of propylene glycol on the exchange was relatively light, with average inquiries for new orders on the exchange. Downstream demand as mainly focused on purchasing according to demand. SunSirs' propylene glycol data analyst believes that in the short term, the propylene glycol market will mainly adjust to be weaker, and the specific trend still needs to pay more attention to changes in supply and demand news.
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