SunSirs: This Week, the Propylene Glycol Market Experienced a Weak Decline (January 1-5)
January 09 2024 11:04:42 SunSirs (John)Price trend
According to monitoring data from SunSirs, as of January 5, 2024, the reference market price of domestically produced industrial grade propylene glycol was 8,233 RMB/ton. Compared with January 1 (reference price of propylene glycol was 8,300 RMB/ton), the price decreased by 67 RMB/ton, a decrease of 0.80%.
Analysis review
From the monitoring chart of SunSirs data, it can be seen that this week (1.1-1.5), the overall domestic propylene glycol market showed a weak downward trend. Affected by the operation of propylene glycol units in some regions of China, the overall supply side production of propylene glycol had increased. Starting from the beginning of this week, the propylene glycol market had been weakly consolidating and operating, with a weak atmosphere in the market. New orders for propylene glycol had not been well executed, and the supply-demand contradiction had gradually emerged. Over the weekend, some propylene glycol factories and suppliers were under pressure to lower the price of propylene glycol, with a reduction of 100-200 RMB/ton. As of January 5th, the domestic propylene glycol market price reference was around 8,100-8,300 RMB/ton.
Market outlook
As of January 5th, the inquiry atmosphere in the propylene glycol market was relatively cold, and the mentality of the propylene glycol industry was average. Downstream wait-and-see sentiment was gradually increasing. The propylene glycol data analyst of SunSirs believes 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 changes in supply and demand news.
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