Price trend

According to monitoring data from SunSirs, as of April 9, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7,700 RMB/ton. Compared with March 1 (reference price of propylene glycol was 8,100 RMB/ton), the price was reduced by 400 RMB/ton, a decrease of 4.94%.

Although "Golden March and Silver April" had arrived, the market trend of propylene glycol in China still seemed to be stuck in "winter". Starting from early March, the domestic propylene glycol market had been weak and declining, with a cold trading atmosphere on the exchange and a continuous decline in market focus. In March, propylene glycol fell by 4.12%. Entering April, the decline in the propylene glycol market had not stopped, and there was insufficient support from positive market conditions. After the Qingming Festival, the focus of the propylene glycol market continued to move towards a low level. As of April 9th, the domestic propylene glycol market price reference was around 7,600-7,800 RMB/ton.

Analysis of influencing factors

In terms of demand: Entering March, downstream demand for propylene glycol was still slowly recovering, and the overall demand in the propylene glycol market had always performed poorly, making it difficult for the demand side to provide effective support to the propylene glycol market.

On the supply side, the overall downstream production of propylene glycol was relatively low, with limited transactions of new orders on the market. The supply and demand transmission was slow, and the pressure on the propylene glycol supply side increased. The support provided by the supply side for propylene glycol was also insufficient. Taking into account both supply and demand, the overall favorable support for the propylene glycol market was difficult to find, and the market situation was under pressure and was declining.

Market outlook

As of April 9th, the trading atmosphere of propylene glycol on the market was light, and the mentality of the industry was average. There was a certain wait-and-see and worried sentiment in the market. The propylene glycol data analyst of SunSirs believes that in the short term, the domestic propylene glycol market will mainly adjust in a narrow range, and the specific trend still needs to pay more attention to changes in supply and demand news.

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