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SunSirs: At the Beginning of the Month, the Propylene Glycol Market Was Weak and Down
July 07 2022 14:29:37SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of July 6, 2022, the average ex-factory price of domestic industrial-grade propylene glycol was 11,333 RMB/ton, compared with the price on June 30, 2022 (the ex-factory reference price of propylene glycol was 12,266 RMB/ton), the price was lowered by 933 RMB/ton, a decrease of 7.61%.

Analysis review

It can be seen from the data monitoring chart of SunSirs that in June, the domestic propylene glycol market fell from a high level. After entering July, the propylene glycol market continued to decline, and the overall situation was still weak. At the beginning of the month, the new orders in the propylene glycol market were generally traded, and under the cautious downstream demand, the factory continued to sell at a profit-cutting, and the market price of propylene glycol was reduced by 300-500 RMB/ton. On the 2nd and 3rd, the propylene glycol market was weak, and the negotiation atmosphere was heavy, and the overall demand was not boosted. On the 4th, 5th and 6th, the focus of the domestic propylene glycol market dropped again, the price difference between the high and low prices in the market widened, and the low-end price of propylene glycol fell below 11,000 RMB/ton. As of July 6, the domestic ex-factory price of propylene glycol was around 10,600-11,200 RMB/ton, a drop of more than 7% within six days. As of July 6, the propylene glycol factory was more active in receiving orders, and the transaction focused on negotiation.

On the upstream side of propylene oxide, in June, the domestic propylene oxide market was running down as a whole. In July, the propylene oxide market continued to decline. According to the data monitoring of SunSirs, as of July 5, the reference price of propylene oxide was 10,433.33 RMB/ton, a decrease of 0.63% compared with the price on July 1 (10,500 RMB/ton).

Market outlook

At present, the trading atmosphere of the propylene glycol market is general, the factories are actively making profit-cutting for shipment, and the downstream demand for propylene glycol continues to be the rigid demand. The propylene glycol data engineer of SunSirs believes that in the short term, the domestic propylene glycol market is mostly stable, and the specific trend needs to pay more attention to the basic changes in supply and demand and the follow-up of new orders.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

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