SunSirs: In January, the Propylene Glycol Market Experienced a Weakly Downward Trend

Price trend

According to monitoring data from SunSirs, as of January 31, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7,00 RMB/ton. Compared with January 1 (reference price of propylene glycol was 8,00 RMB/ton), the price was reduced by 400 RMB/ton, a decrease of 4.82%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that in January, the overall domestic propylene glycol market showed a weak and declining trend. The propylene glycol market lacked fective support, and the market price center was constantly moving towards a low level. As of January 31, the domestic propylene glycol market price was referenced around 7,800-7,900 RMB/ton, with a monthly price reduction of about 350-450 RMB/ton, a decrease of nearly 5%.

Factors influencing the market situation of propylene glycol:

In terms of demand: In early January, the overall trading atmosphere in the propylene glycol market was light, with flat new orders on the market and insufficient support from the demand side for propylene glycol. In late January, downstream propylene glycol was stocked in a small area before the holiday, and the demand side slightly improved. However, the wait-and-see sentiment on the market remained unchanged, and the overall support for propylene glycol remained weak. The market continued to operate weakly.

In terms of supply: At the end of the fourth quarter of 2023, some regions started production, and the overall supply of propylene glycol increased. The loose performance of the supply side put some supply pressure on the propylene glycol market, so the overall supply side provided limited market support for propylene glycol.

Market outlook

As of January 31st, as the Chinese New Year holiday approaching, the wait-and-see atmosphere in the propylene glycol market remained strong. The overall mentality of propylene glycol operators was average, and there was some concern about the future market in the market. With the arrival of the holiday, logistics transportation in some regions of China had also begun to shut down one after another. Although the overall downstream demand was average, the estimated fluctuation of the propylene glycol market was limited. The propylene glycol data analyst from SunSirs believes that in the short term, the overall operation of propylene glycol in the domestic market will be mainly calm, and the specific trend still needs to pay more attention to changes in supply and demand news.

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