Price trend
According to monitoring data from SunSirs, as of December 6, 2023, the reference market price of domestically produced industrial grade propylene glycol was 8,100 RMB/ton. Compared with December 1 (reference price of propylene glycol was 8,066 RMB/ton), the price increased by 34 RMB/ton, an increase of 0.41%. Compared with November 15 (reference price of propylene glycol was 8,033 RMB/ton), the price increased by 67 RMB/ton, an increase of 0.83%.
Analysis review
Looking back at November, the domestic propylene glycol market continued to be weak and declining. The downstream demand for propylene glycol was weak, the on-site atmosphere was light, and the supply side was operating at a low level, resulting in an overall weak supply-demand situation in the market. Entering December, at the beginning of the month, the propylene glycol market as a whole had experienced a narrow upward trend. The supply of propylene glycol on the supply side was relatively low, and some factories had less pressure to ship. In the case of downstream demand orders, the shipment price of propylene glycol had been raised narrowly, with an increase of about 50-100 RMB/ton. As of December 6th, the domestic propylene glycol market price reference was around 8,050-8,200 RMB/ton.
Market outlook
As of December 6th, the overall trading atmosphere in the propylene glycol market was light, downstream purchased continued to be on demand. New order inquiries were cautious, and the propylene glycol data analyst at SunSirs predicts that in the short term, the domestic propylene glycol market will mainly adjust in a small range, and the specific market trend still needs to pay more attention to changes in supply and demand news.
