Price trend

According to the commodity market analysis system of SunSirs, on May 11, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7,500 RMB/ton. Compared with May 5 (reference price of propylene glycol was 7,650 RMB/ton), the price was reduced by 150 RMB/ton, a decrease of 2.37%.

Analysis review

From the commodity market analysis system of SunSirs, it can be seen that in the first week after May Day Labor Day, the overall domestic propylene glycol market continued to be weak and decline. Looking back at the pre holiday period, the overall pre holiday stocking performance of the propylene glycol market was poor. However, with the return after the holiday, the propylene glycol market did not receive effective market support. The trading atmosphere on the propylene glycol market remained weak, with poor new order inquiries. The downstream demand side continued to be weak, and the focus of the propylene glycol market continued to explore downwards. As of May 11th, the domestic propylene glycol market price was around 7,300-7,600 RMB/ton.

In terms of upstream propylene oxide: After the holiday, the overall propylene oxide market in Shandong region remained stable at a high level, with a reference price of 9,225 RMB/ton on May 11th. The stable operation of propylene oxide provided certain cost support for the dimethyl carbonate market.

Market outlook

As of May 11th, downstream demand for propylene glycol was still sluggish, and there was a strong wait-and-see sentiment on the market. However, with high cost prices and almost bottoming out prices, the risk of a significant downturn in the propylene glycol market in the future is relatively small. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will mainly undergo narrow adjustments, and the specific trend still needs to pay more attention to changes in fundamental news.

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