Price trend
According to the monitoring data of SunSirs, as of November 10, 2022, the reference price of domestic industrial propylene glycol was 8,133 RMB/ton, which was 117 RMB/ton lower than that of November 7 (8,250 RMB/ton), a 1.41% drop. As of November 10, the price of domestic industrial propylene glycol was around 7,900-8,300 RMB/ton.
Analysis review
It can be seen from the data monitoring chart of SunSirs that this week (11.7-11.10), the overall domestic propylene glycol market fell slightly. The main factors influencing the weak decline of domestic propylene glycol market were analyzed from the following two aspects:
- On the supply side, some factories that were blocked in shipment in the early stage were relieved this week. The overall supply inventory of propylene glycol in the market had increased, and the factory was actively shipping and receiving orders. Therefore, the support given to propylene glycol by the supply side was loose.
- In terms of demand, propylene glycol downstream demand mainly continued to be on demand procurement. The downstream was in a strong wait-and-see mood, and the overall turnover of new orders was limited. Therefore, the support given to propylene glycol from demand side was not significantly boosted.
Market outlook
It is said that in the fourth quarter, propylene glycol field devices may increase, and the downstream wait-and-see mood may continue under the increase of supply, and the purchase will be more cautious. According to the propylene glycol data engineer of SunSirs, in the short term, the domestic propylene glycol market tends to be weak and finishing, and more attention should be paid to the changes in the information on the supply and demand side.
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