SunSirs: Due to Insufficient Demand, the Propylene Glycol Market Continued to Decline in March (March 1-29)
March 30 2023 13:15:53 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of March 29, 2023, the reference market price of domestic industrial grade propylene glycol was 8,500 RMB/ton. Compared with March 1 (reference price of propylene glycol was 9,566 RMB/ton), the price was reduced by 1,066 RMB/ton, a decrease of 11.15%.
Analysis review
As can be seen from the data monitoring chart of SunSirs, since March (3.1-3.29), the overall domestic propylene glycol market had shown a weak and continuous decline. In early March, supported by high raw material prices, the propylene glycol market experienced a brief upward movement. However, affected by the continued weakness of the downstream demand, from mid to late March, the focus of the domestic propylene glycol market continued to move downward. New orders were limited and transmission of propylene glycol supply and demand was slow. Propylene glycol factories and suppliers lowered the price of propylene glycol. By the end of March, the maximum decline in domestic propylene glycol reached around 1,000 RMB/ton. As of March 29, the market price of propylene glycol in China was around 8,300-8,900 RMB/ton.
Market outlook
As of the 29th, the trading of new orders on the propylene glycol market was average, the trading atmosphere was flat, and the downstream wait-and-see sentiment was strong. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will be mainly narrowly adjusted to be weaker, and the specific trend needs to pay more attention to the changes in information on the supply and demand side.
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