SunSirs: The Propylene Glycol market Rose First and Then Fell in September (September 1-27)

Price trend

According to monitoring data from SunSirs, as of September 27, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 8,466 RMB/ton. Compared with September 1 (reference price of propylene glycol 8,600 RMB/ton), the price was reduced by 134 RMB/ton, a decrease of 1.55%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that since September (9.1-9.27), the overall domestic propylene glycol market showed an upward trend followed by a downward trend. In early September, the trading atmosphere of propylene glycol on the market was mild, and downstream demand was good. Supported by demand, the propylene glycol market saw a slight increase, with a 2.33% increase in seven days.

After two days of consolidation of the propylene glycol market, the overall propylene glycol market fell into a weak trend in late September due to weaker demand. The trading atmosphere on the market was light, new orders were limited and downstream demand was cautious. The overall market atmosphere was not good, and the supply side was under pressure. With both supply and demand weak, the propylene glycol market center continued to move towards the low end. As of September 27th, the domestic market price of propylene glycol was around 8,400-8,600 RMB/ton.

Market outlook

As of September 27th, the trading atmosphere of propylene glycol on the market was light, downstream mostly purchasing according to the demand, and new order was mainly basedon negotiations. The propylene glycol data analyst of SunSirs predicts that in the short term, the domestic propylene glycol market will mainly adjust in a narrow range, and the specific trend still needs to pay more attention to the changes in supply and demand news.

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