Price trend

According to monitoring data from SunSirs, as of April 15, 2024, the reference market price for domestically produced industrial grade propylene glycol was 7,666 RMB/ton. Compared with April 9 (reference price for propylene glycol was 7,700 RMB/ton), the price decreased by 34 RMB/ton, a decrease of 0.43%. Compared to April 1st (reference price of propylene glycol at 7,733 RMB/ton), the price had been reduced by 70 RMB/ton, a decrease of 0.86%.

Analysis review

From the data monitoring system of the SunSirs, it can be seen that by mid April, the overall domestic propylene glycol market had once again experienced a slight decline. Some propylene glycol factories in Shandong region had slightly lowered the ex factory price of propylene glycol under pressure, with a reduction of about 50-100 RMB/ton, while other factories mainly maintained stable prices in multiple dimensions. On April 15th, the domestic propylene glycol market price was around 7,500-7,800 RMB/ton.

Analysis of influencing factors

As of April 15th, the overall supply and demand of propylene glycol in the field were slow. Firstly, in terms of demand, the downstream demand side of propylene glycol had shown poor performance, and the downstream demand market was generally weak and weak, providing sustained insufficient support for propylene glycol demand. Secondly, in terms of supply, currently, some propylene glycol factories were facing difficulties in reducing supply pressure, and the supply side was also unable to provide effective support to the market.

Market outlook

As of April 15th, the trading atmosphere of propylene glycol on the exchange was light, and the mentality of the operators was average. The wait-and-see attitude on the exchange was strong, and some operators had certain concerns about the future market. The propylene glycol data analyst of SunSirs believes that in the short term, the domestic propylene glycol market will mostly adjust its operation to be weaker. The specific trend still needs to pay more attention to changes in supply and demand news.

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