SunSirs: Limited Demand, Propylene Glycol Market Weakly Declined

Price trend

According to monitoring data from SunSirs, as of November 17, 2023, the market price of domestic industrial grade propylene glycol was referenced at 8,033 RMB/ton. Compared with November 12 (reference price of propylene glycol was 8,100 RMB/ton), the price was reduced by 67 RMB/ton, a decrease of 0.82%. Compared with October 1 (reference price of propylene glycol was 8,466 RMB/ton), the price was reduced by 333 RMB/ton, a decrease of 5.12%.

Analysis review

From the monitoring data graph of SunSirs, it can be seen that this week, the overall domestic propylene glycol market showed a weak decline, with limited downstream demand for propylene glycol, making it difficult for the demand side to provide effective support to the propylene glycol market. There were few new orders for propylene glycol, and the atmosphere of inquiries on the market was light, with a strong wait-and-see atmosphere. Due to demand constraints, during the week, some factories and suppliers with higher initial offers began to offer discounts and adjust the price of propylene glycol downwards by around 100-200 RMB/ton. As of November 17th, the domestic propylene glycol market price was based on around 8,000-8100 RMB/ton, with lower end prices around 7,800-7,900 RMB/ton, and higher end prices around 8,200-8,300 RMB/ton.

Market outlook

As of November 17th, the overall operating rate of propylene glycol in China had not changed much this week. Downstream demand had boosted the overall performance, and the weak demand side had constrained factory operating efficiency. There were certain concerns and wait-and-see sentiment in the market. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will mainly adjust and operate in a narrow range, and more attention should be paid to changes in cost and supply and demand news.

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