SunSirs: Just in Need of Procurement, the Propylene Glycol Market Slightly Increased This Week (October 13-19)

Price trend

According to monitoring data from SunSirs, as of October 19, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 8,166 RMB/ton. Compared with October 13 (reference price of propylene glycol was 8,100 RMB/ton), the price was increased by 66 RMB/ton, an increase of 0.82%.

Analysis review

According to the data monitoring chart of SunSirs, it can be seen that after the National Day holiday, the domestic propylene glycol market had fallen into a downward trend, with insufficient effective support for the propylene glycol market, and the confidence of operators was undermined. The propylene glycol market price had all along fallen to a low point. Entering this week, facing the continuous downward trend of the propylene glycol market for a month, some large propylene glycol factories had a strong mentality of maintaining stability and price support. At the beginning of the week, the propylene glycol market entered a low consolidation period, and downstream finally welcomed a small range of just needed replenishment and bargain hunting. In the middle of the week, the propylene glycol market experienced a slight upward movement, with some propylene glycol factories raising propylene glycol prices narrowly by about 100 RMB/ton. As of October 19th, the domestic market price of propylene glycol was around 8,000-8,200 RMB/ton.

Market outlook

As of October 19th, the trading atmosphere of propylene glycol on the market was light, and there was a certain wait-and-see sentiment in the market. New orders were still cautious in trading, and the support provided by the demand side had not yet been fully released. The propylene glycol data analyst at SunSirs believes that in the short term, the overall domestic propylene glycol market will mainly adjust slightly, and more attention should be paid to changes in supply and demand news.

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