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SunSirs: After the National Day Holiday, the Overall Market of Propylene Glycol Was Weak and Declined
October 11 2022 10:46:50SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of October 9, 2022, the average ex factory price of domestic industrial propylene glycol was 8,966 RMB/ton, which was 600 RMB/ton lower than that of September 30 (9,566 RMB/ton), a decline of 6.27%.

Analysis review

It can be seen from the data monitoring chart of SunSirs that the domestic propylene glycol market was weak and running downward after returning from the National Day holiday in October. After the festival, the downstream purchasing enthusiasm was average, and the wait-and-see mood was strong. Although the raw material propylene oxide market was still operating at a high level, the overall pressure of propylene glycol shipment was constrained by the demand after the festival, and the market was not motivated to maintain a high level. On the 8th and 9th day after the festival, the propylene glycol market price was adjusted downward as a whole, with a cumulative decrease of 400-700 RMB/ton for two days. As of October 9, the domestic propylene glycol market price was around 8,800-9,000 RMB/ton. On the 10th, the overall trading and investment atmosphere of propylene glycol market was ordinary, and the actual order was mainly discussed.

In terms of upstream propylene oxide, the overall propylene oxide market rose slightly in September. In October, the propylene oxide market was weak and slightly volatile after the festival. According to the data monitoring of SunSirs, the reference price of propylene oxide was 9,766 RMB/ton on October 9, a decrease of 3.20% compared with October 1.

Market outlook

It is said that the domestic production capacity of propylene glycol may be adjusted in October. People in the industry all pay more attention to the 80,000 t/a capacity unit that Haike Sipai planned to put into production at the end of October in Jiangsu Lianyungang. At present, the domestic comprehensive capacity is about 572,000 tons/year. If it is put into production as scheduled, it will reach 652,000 tons/year capacity by the end of this month. The supply side is still relatively adequate. For the future market, the downstream is still wait-and-see attitude, and the procurement is more cautious. Therefore, the propylene glycol data analyst of SunSirs believes that in the short term, the domestic propylene glycol market will be dominated by weak operation, and more attention should be paid to the changes in the information on the supply and demand side.

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