SunSirs: In Early April, the Propylene Glycol Market Saw a Slight Increase (April 1-18)
April 19 2023 09:41:59 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of April 18, 2023, the reference market price of domestic industrial propylene glycol was 8,633 RMB/ton, which was 234 RMB/ton higher than that of April 1 (8,366 RMB/ton), an increase of 2.37%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that in early April (4.1-4.18), the overall trend of the domestic propylene glycol market showed a steady upward trend. In April, the overall supply of propylene glycol in the plant became tight, some devices were shut down for maintenance, and the operating rate declined compared with the previous period. The tight spot circulation of propylene glycol in the plant supported the upward trend of propylene glycol market. As of April 18, the overall adjustment range of propylene glycol market was around 200-300 RMB/ton, and the propylene glycol market price was around 8,500-8,700 RMB/ton. As of the 18th, the downstream demand for propylene glycol in China mainly continued to be based on rigid demand procurement, and the market trading atmosphere was mild.
Market outlook
As of the 18th, most of the upward momentum in the propylene glycol market came from supply side support, while the performance of the downstream demand side was general. Therefore, the propylene glycol data analyst from SunSirs believes that in the short term, the upward momentum of the propylene glycol market is limited, and the market mainly tends to stabilize and consolidate. The specific trend still needs to pay more attention to changes in information on the supply and demand sides.
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