SunSirs: The Propylene Glycol Market Was Weak and Declining Overall This Week (September 15-22)
September 26 2023 10:34:34 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of September 22, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 8,600 RMB/ton. Compared with September 18 (reference price of propylene glycol 8,700 RMB/ton), the price was reduced by 100 RMB/ton, a decrease of 1.15%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that this week (9.18-9.22), the overall domestic propylene glycol market showed a weak and declining trend. Entering this week, the trading atmosphere in the domestic propylene glycol market was light, downstream demand was average and new order growth was limited. There was a certain wait-and-see sentiment in the downstream, and spot circulation was relatively slow. In addition, the downward trend in the raw material market provided limited cost support for propylene glycol, and the overall effective support for propylene glycol on the market was loosened. Some factories were under pressure to narrow down the price of propylene glycol, with a reduction of around 100 RMB/ton. As of September 22, the domestic market price of propylene glycol was around 8,500-8,700 RMB/ton.
Market outlook
As of September 22nd, the trading atmosphere of propylene glycol on the market was not good, and the overall market atmosphere was weak. The overall downstream orders were average, with new orders mainly discussed. The propylene glycol data analyst of SunSirs predicts that in the short term, the domestic propylene glycol market will mainly adjust and operate within the range, and the specific trend still needs to pay more attention to changes in supply and demand news.
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