SunSirs: In November, the Propylene Glycol Market Experienced a Weak and Declining Trend

Price trend

According to monitoring data from SunSirs, as of November 27, 2023, the reference market price of domestically produced industrial grade propylene glycol was 8,033 RMB/ton. Compared with November 1 (reference price of propylene glycol was 8,100 RMB/ton), the price decreased by 67 RMB/ton, a decrease of 0.82%. Compared with October 1 (reference price of propylene glycolwas 8,466 RMB/ton), the price decreased by 333 RMB/ton, a decrease of 5.12%.

Analysis review

From the monitoring data chart of SunSirs, it can be seen that the overall domestic propylene glycol market had been slightly declining since November. In the early stages, the propylene glycol market was generally weak and stable, with little market volatility overall. Under the dual pressure of insufficient downstream demand for propylene glycol and high costs, the overall performance of the propylene glycol market was in a dilemma of rising and falling, and the market remained stable until mid month. In late November, downstream demand for propylene glycol continued to perform averagely, with poor support from the demand side. The pace of propylene glycol shipments was relatively slow, and under the supply-demand game, some propylene glycol suppliers offered slightly higher prices, with a narrow reduction of about 100 RMB/ton in propylene glycol prices. As of November 27th, the domestic propylene glycol market price was referenced at around 8,000-8,100 RMB/ton.

Market outlook

As of November 27th, the trading atmosphere of propylene glycol on the market was light, and downstream demand boosted commonly. The supply side was relatively stable, but the cost side still put some pressure on propylene glycol. Therefore, the propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will have limited significant fluctuations, and the market will mainly be stable with small adjustments. More attention should be paid to changes in cost and supply and demand news.

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