SunSirs: Demand Dragged down, and the Propylene Glycol Market continued to decline (June 1-20)
June 21 2023 09:30:28 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of June 20, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 7,200 RMB/ton. Compared to June 1 (reference price of propylene glycol was 8,033 RMB/ton), the price was reduced by 833 RMB/ton, a decrease of 10.37%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that since June (6.1-6.20), the overall domestic propylene glycol market showed a continuous weak decline. In early June, the downstream demand for propylene glycol improved poorly, with limited support from the demand side. The propylene glycol market adjusted downward, with an adjustment range of around 200 to 300 RMB/ton. In late June, the downstream new orders for propylene glycol were limited, and the demand side continued to be weak, demand support was insufficient, and some propylene glycol factories’ inventory accumulated. Under supply pressure, the propylene glycol market began to offer wide discounts for shipment, with a price reduction of around 300-600 RMB/ton. As of June 20th, the domestic market price of propylene glycol was around 7,000-7,400 RMB/ton.
Market outlook
As of the 20th, the trading atmosphere in the propylene glycol market was light, with cautious negotiations being the main focus for new orders. Overall, there was a strong wait-and-see sentiment on the market. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market is mainly sorted to be weaker, and the specific trend still needs to pay more attention to changes in supply and demand news.
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- 2024-03-20 SunSirs: Demand Was Weak, and the Propylene Glycol Market Was Weak and Declining in Recent Times
