SunSirs: Poor Demand Led to Weak Performance in the Propylene Glycol and Dimethyl Charcoalate Markets in Early March

Price trend

According to monitoring data from SunSirs, as of March 13, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7,900 RMB/ton. Compared with March 10 (reference price of propylene glycol was 7,950 RMB/ton), the price was reduced by 50 RMB/ton, a decrease of 0.63%. Compared to March 1st (reference price of propylene glycol at 8,100 RMB/ton), the price has been reduced by 200 RMB/ton, a decrease of 2.47%.

According to monitoring data from SunSirs, as of March 13, 2024, the reference market price of domestically produced industrial grade dimethyl charcoalate was 3,816 RMB/ton. Compared with March 1 (reference price of dimethyl charcoalate was 3,833 RMB/ton), the price decreased by 17 RMB/ton, a decrease of 0.43%.

Analysis review

From the two data monitoring charts of SunSirs on propylene glycol and dimethyl charcoalate, it can be seen that in March, the domestic propylene glycol and dimethyl charcoalate markets had shown a weak downward trend. After entering this week, the overall market situation of propylene glycol and dimethyl charcoalate did not show significant improvement. The overall market for dimethyl charcoalate showed a weak consolidation operation. The propylene glycol market had experienced a slight bearish decline, and the focus of market discussions was moving downwards.

As of March 13th, in the production facilities of propylene glycol and dimethyl charcoalate in China, the co production of the two still dominated. Therefore, the market trends of the two products had a mutual influence. The main influencing factor for the weak performance of both propylene glycol and dimethyl charcoalate products this time was the weak downstream demand, and the overall support provided by the demand side to the market was insufficient, The overall shipment of propylene glycol and dimethyl charcoalate was under certain pressure, so the overall market performance was also weak. As of March 13th, the domestic market price of propylene glycol was around 7,800-8,000 RMB/ton, and the domestic market price of dimethyl charcoalate was around 3,600-4,000 RMB/ton.

Market outlook

As of March 13th, the overall trading atmosphere in the propylene glycol and dimethyl charcoalate markets had been relatively light. The propylene glycol industry was mainly engaged in shipments, and the propylene glycol market price had fluctuated narrowly overall. Downstream demand for dimethyl charcoalate was also average, and the market was mainly weak and consolidating. Data analysts from SunSirs believe that in the short term, the domestic market for propylene glycol and dimethyl charcoalate will mainly operate with adjustment in a range, and the specific trend still needs to pay more attention to changes in supply and demand news.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.