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SunSirs: Propylene Glycol Market Was Weak and Fell This Week (October 15-20)
October 20 2022 15:28:18SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of October 20, 2022, the average ex factory price reference of domestic industrial propylene glycol was 8,333 RMB/ton, which was 433 RMB/ton lower than that on October 15 (the reference price of propylene glycol was 8,766 RMB/ton), a decrease of 4.94%.

Analysis review

It can be seen from the data monitoring chart of SunSirs that in the first ten days of October, after the holiday, the domestic propylene glycol market fell as a whole. Entering this week, the propylene glycol market continued to decline, and the market center continued to decline, with a decline of nearly 5% this week. The main reasons for the decline of propylene glycol market are as follows:

In terms of cost, the raw material propylene oxide market has declined, giving propylene glycol a loose cost support.

In terms of demand, downstream demand was average, mostly wait-and-see, market shipments were average, and deals were mainly negotiated. Under the condition of weak supply and demand, propylene glycol industry had a general mentality, and the market as a whole ran downward.

As of October 20, the domestic propylene glycol market price is around 8,100-8,500 RMB/ton, and the price is lowered by 300-600 RMB/ton within the week. At present, the trading atmosphere in the market is general, and the downstream is in a strong wait-and-see mood. The deal is mainly negotiated.

On the upstream side, the recent (10.14-10.19) domestic propylene oxide market generally declined. According to the data monitoring of SunSirs, the reference price of propylene oxide was 9,766 RMB/ton on October 19, a decrease of 3.20% compared with that of October 14.

Market outlook

At present, the propylene glycol market shipments are average, and the supply and demand transmission is still relatively slow as a whole. The propylene glycol data engineer of SunSirs believes that in the short term, the propylene glycol market is mostly weak and narrow range adjustment operation, and more attention should be paid to the information changes on the supply and demand side.

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

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