SunSirs: The Propylene Glycol Market Was Stable Overall This Week (April 17-21)

Price trend

According to monitoring data from SunSirs, as of April 21, 2023, the reference price for domestic industrial grade propylene glycol in the market was 8,633 RMB/ton, which was basically unchanged compared to April 17. Compared to April 1 (reference price for propylene glycol was 8,366 RMB/ton), the price increased by 267 RMB/ton, an increase of 3.19%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that this week (4.17-4.21), the overall domestic propylene glycol market remained stable and consolidated. In mid to early April, some domestic propylene glycol factories were shut down for maintenance, the spot circulation in the propylene glycol field was tight, and under the support of tight supply, the propylene glycol market continued to be upward. However, the downstream demand of propylene glycol had averagely boosted the market, the demand transformation was relatively slow, and the rise of propylene glycol market was weak. Entering this week, the propylene glycol market entered a stage of stability. As of April 21, the new orders of propylene glycol had been clinched cautiously on the market, and the mentality of the industry was general. As of April 21, the domestic propylene glycol market price was around 8,600-8,700 RMB/ton, and the high end price was around 9,000 RMB/ton.

Market outlook

As of April 21st, the atmosphere in the propylene glycol market was relatively quiet, and the overall news on the supply and demand side was relatively calm. The May Day holiday is approaching, and the propylene glycol market may experience a stage of downstream stocking, and the overall demand side may improve. Therefore, the propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will have a slightly stronger trend, and the specific trend needs to pay more attention to changes in supply and demand information.

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