SunSirs: This Week, the Propylene Glycol Market Saw a Narrow and Slight Increase (December 7-14)

Price trend

According to monitoring data from SunSirs, as of December 14, 2023, the reference market price of domestically produced industrial grade propylene glycol was 8,116 RMB/ton. Compared with December 7 (reference price of propylene glycol was 8,100 RMB/ton), the price increased by 16 RMB/ton, an increase of 0.21%. Compared with December 1 (reference price of propylene glycol was 8066 RMB/ton), the price increased by 34 RMB/ton, an increase of 0.62%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that this week, the overall domestic propylene glycol market had seen a narrow and slight increase. During the week, the downstream demand of the domestic propylene glycol market continued to be mainly for rigid procurement, and some propylene glycol units in Shandong region were still under maintenance. The propylene glycol market remained stable, and there was no significant change in the overall supply and demand of propylene glycol plants. Some propylene glycol factories had decent shipments in the early stage, and the supply pressure gradually eased. As a result, factories raised the price of propylene glycol narrowly by 50 RMB/ton. As of December 14th, the domestic propylene glycol market price was based on around 8,100-8,200 RMB/ton.

Market outlook

As of December 14th, the overall trading atmosphere in the domestic propylene glycol market was still good. The overall production of propylene glycol in the field was relatively low, and the supply side provided some support to the market. Some factories had tight spot prices, and the supply pressure was relatively small. Downstream demand was mainly cautious, while the overall support on the demand side was average. SunSirs' propylene glycol data analyst believes that in the short term, the domestic propylene glycol market will mostly be stable with small fluctuations. The specific market trend still needs to pay more attention to the changes in supply and demand news.

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