SunSirs: In November, Propylene Glycol Market End Down in a Volatile Way (November 1-25)
November 28 2022 10:34:28     SunSirs (John)Price trend
According to the monitoring data of SunSirs, as of November 25, 2022, the average ex factory price of domestic industrial propylene glycol was 7,900 RMB/ton, which was 200 RMB/ton lower than that on November 1 (8,100 RMB/ton), a drop of 2.47%.
Analysis review
It can be seen from the data monitoring chart of SunSirs that since November (11.1-11.25), the domestic propylene glycol market as a whole showed a trend of first rising and then fluctuating and falling.
At the beginning of the month, due to logistics constraints and other factors, some propylene glycol plants were slow to ship, and there was less spot circulation of propylene glycol in the market. The low supply side inventory supported the propylene glycol market to rise slightly for a short time, with an increase of 1.85% in seven days. However, the downstream demand side was cautious. It is said that propylene glycol would be put into production in the fourth quarter. Therefore, the downstream industry had a strong wait-and-see attitude. The overall demand side support was insufficient, and the propylene glycol market was "difficult to keep high". However, in terms of cost, in the middle and first ten days of November, the raw material propylene oxide market rose, and the cost side had support for propylene glycol. Therefore, although the demand performance was poor, the industry was not willing to make large profits-cutting. From the 9th, the propylene glycol market started to slowly decline.
In late November, the raw material propylene oxide market fell, the support from the cost side of propylene glycol was also loose. Under the weak support of supply and demand, the decline of propylene glycol started on the 22nd, with a 2.87% drop in four days. As of the 25th, the trading atmosphere of propylene glycol market was general, and the downstream was in a strong wait-and-see mood.
For upstream propylene oxide, since November (11.1-11.25), the overall domestic propylene oxide market had risen first and then fell. According to business data monitoring, on November 24, the reference price of propylene oxide was 9,550 RMB/ton, down 0.17% compared with that on November 1 (9,566.67 RMB/ton).
Market outlook
To sum up, the overall performance of the effective support of propylene glycol in the market is weak, the mentality of the industry is general, and the downstream stock is cautious. The propylene glycol data engineer of SunSirs believes that in the short term, the propylene glycol market in China is dominated by the weak and narrow consolidation operation, and the specific trend needs to pay more attention to the information changes on the supply and demand side.
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