SunSirs: Trading Was Flat, and the Focus of the Propylene Glycol Market Continued to Shift Downwards (January 11-15)

Price trend

According to monitoring data from SunSirs, as of January 15, 2024, the reference market price of domestically produced industrial grade propylene glycol was 8,066 RMB/ton. Compared with January 12 (reference price of propylene glycol was 8,166 RMB/ton), the price was reduced by 100 RMB/ton, a decrease of 1.22%; Compared to January 1st (reference price of propylene glycol at 8,300 RMB/ton), the price had decreased by 234 RMB/ton, a decrease of 2.81%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that in early January, the domestic propylene glycol market as a whole was weak and had a downward trend. Entering this week, the overall decline in the propylene glycol market had not stopped. The atmosphere in the propylene glycol market was light, with flat new orders. The focus of the propylene glycol market continued to move towards a lower level, and some factories continued to lower their propylene glycol shipping prices by about 100-200 RMB/ton. As of January 15th, the domestic propylene glycol market price reference was around 7,900-8,200 RMB/ton. As of January 15th, the propylene glycol industry was trading actively, but the overall market trading was weak, and downstream users were cautious in purchasing just in needed. The overall supply and demand transmission in the market was slow.

Market outlook

As of January 15th, the overall performance of the domestic propylene glycol market had been weak, with a strong wait-and-see sentiment on the market. Inquiries and transactions had shown caution, and the overall market demand performance had been lacking. According to the propylene glycol data analyst from SunSirs, in the short term, the domestic propylene glycol market will mainly adjust within a narrow range, and the specific trend still needs to pay more attention to changes in supply and demand news.

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