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SunSirs: Propylene Glycol Market Rose as a Whole in September (September 1-28)
September 29 2022 14:23:54SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of September 28, 2022, the average ex factory price of domestic industrial propylene glycol was 9,733 RMB/ton, and on September 1 (the reference price of propylene glycol was 9,250 RMB/ton), the price increased by 483 RMB/ton, or 4.50%.

Analysis review

It can be seen from the data monitoring chart of SunSirs that since September (9.1-9.28), the domestic propylene glycol market was rising as a whole. In the first ten days of September, supported by the high cost of raw materials and the low inventory of propylene glycol in the market, the domestic propylene glycol market saw a steady rise at the beginning of the month, with prices rising by around 400-600 RMB/ton within five days, an increase of nearly 6%. Then the market continued to run at a high level.

After the Mid-Autumn Festival, the focus of the propylene glycol market continued to move towards the high end, with rising costs and a boost from the downstream demand side, the supply pressure of propylene glycol was less, and the market ushered in a wide rise. As of September 15, the propylene glycol market reference price was around 9,900-10,300 RMB/ton, and the market rose more than 9% in the first half of the month.

In the second half of September, on the 16th and 17th, the market price of propylene glycol rose again as a whole, with an upward range of around 200 RMB/ton, and then the market remained stable at a high level. Beginning on the 21st, as the cost of raw materials fell, the cost-side support of propylene glycol loosened, and after the high price on the market, the downstream wait-and-see mood increased, and the trading on the market turned weak. With both supply and demand weakening, the propylene glycol market began to fall from a high level. As of September 28, the domestic propylene glycol market reference price was around 9,500-9,800 RMB/ton, down 4.29% in the second half of the month. On the 28th, the trading atmosphere of the propylene glycol market was light, and the overall performance of the new orders was general.

In terms of upstream propylene oxide, the propylene oxide market rose slightly in September. In the first half of the month, the price of raw propylene rose, and the cost support was gradually strengthened. The devices on the market were mainly stable before the Mid Autumn Festival, the supply was tight, the factory shipments were smooth, and the market was relatively strong without pressure. After the festival, the market continued to be tight, the demand side was flat, and the downstream mentality was different. It was mainly cautious and wait-and-see. On the 15th, the mainstream quotation of propylene oxide market in Shandong was around 10,500-10,600 RMB/ton. In the second half of the month, the cost support remained, some units recovered, and the supply side increased, but the demand side was still flat. Downstream waited and waited, the inventory accumulated slightly, and the price decreased. In the late ten days, as the downstream polyether orders rebounded, the factory shipments improved, and the inventory pressure eased, after the market quotation rose slightly, the deadlocked operation occurred. On the 28th, the mainstream market quotation of propylene oxide in Shandong was around 9,800-9,900 RMB/ton.

Market outlook

At present, the National Day holiday is approaching, logistics and transportation have been suspended one after another, and after the phased stocking of propylene glycol, the current market new orders are not good. The propylene glycol data engineer of SunSirs believes that during the pre-holiday period, the domestic propylene glycol market was mostly weak mainly, and the overall market fluctuations would not be too large. Specifically, it is needed to pay more attention to the basic changes in supply and demand.

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

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