Last week, the domestic propylene glycol market had begun to weaken. Entering this week, on the first two days of the week, the domestic propylene glycol market continued to fall sharply, and the center of gravity continued to fall. The propylene glycol market had a strong wait-and-see atmosphere, the downstream operating rate was low, the demand side performance was weak, and the overall trading atmosphere on the market was average. In addition, in terms of raw materials, the raw material propylene oxide market inventory was under pressure, and the center of gravity was weak, which loosened the cost support for propylene glycol. On the 15th and 16th, the domestic propylene glycol market price fell broadly, with a decrease of 500-1,500 RMB/ton. As of the 16th, the domestic market price of propylene glycol was around 18,200-18,800 RMB/ton, a drop of 7.46% in the two days compared with the previous weekend.
In terms of upstream propylene oxide, recently, the domestic propylene oxide market has been weakened. According to the data monitoring of SunSirs, the reference price of propylene oxide was 15,800 RMB/ton on November 16, compared with the price on November 1 (17,300 RMB/ton), it was down by 8.6%.Market outlook trend analysis
At present, the downstream market of propylene glycol has a strong wait-and-see sentiment, coupled with the recent increase in the supply of propylene glycol, the contradiction between supply and demand appears. The propylene glycol data engineer of SunSirs believes that in the short term, the domestic propylene glycol market will be weak and the market still has downside risks. It is necessary to pay more attention to the specific changes on the supply and demand side.
