Price trend

In early February 2026, the Shandong propylene glycol market was generally stable with sluggish trading.

According to the commodity market analysis system of SunSirs, as of February 9, the average production price of propylene glycol in Shandong was 5,933 RMB/ton, which was the same as at the beginning of the month and down 5.8% year-on-year.

Driving factors

On the supply side, some production facilities were shut down, but the supply was ample, and inventory was at a moderate to high level. Inventory reduction was slow, and the focus was on stabilizing prices and reducing inventory.

On the demand side, February is the eve of the Spring Festival, which is traditionally a slow season for the market. Downstream factories gradually shut down for the holidays, and only essential purchases were made, resulting in decreased market activity and insufficient support. It is expected to gradually recover after the Spring Festival.

In terms of costs, the price of propylene oxide, the main raw material, was under pressure and falling, resulting in weak cost support and little chance of a strong boost in the short term.

On February 9th, the benchmark price of propylene oxide on the business information platform was 7,800.00 RMB/ton, a decrease of 4.88% compared to the beginning of the month.

Market outlook

In the short term: the market is expected to remain stable around the Spring Festival holiday, with little possibility of significant price fluctuations. The focus will be on observing the resumption of work and restocking demand in downstream industries after the holiday.

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