Price trend

According to the commodity market analysis system of SunSirs, on May 24, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7,316 RMB/ton. Compared with May 18 (reference price of propylene glycol was 7,366 RMB/ton), the price was reduced by 50 RMB/ton, a decrease of 0.68%.

Analysis review

From the commodity market analysis system of SunSirs, it can be seen that this week, the domestic propylene glycol market as a whole had been weak and declining. During the week, the trading atmosphere in the propylene glycol market continued to be light, with a strong wait-and-see sentiment on the market. The downstream buying atmosphere for propylene glycol was insufficient, and the supply side of propylene glycol was slow to ship. With increasing supply pressure, the focus of negotiations in the propylene glycol market was moving towards a lower level. As of May 24th, the domestic propylene glycol market price was based on around 7,200-7,400 RMB/ton.

In terms of upstream epoxy propane: On May 24th, the market for epoxy propane in East China remained stable, with mainstream prices ranging from 9,550 to 9,600 RMB/ton. Cost support was limited, and there was no pressure on the supply side. The market was mainly wait-and-see.

Market outlook

As of May 24th, the trading atmosphere of propylene glycol on the exchange was average, and the release of effective support on the exchange was slow. After a slight decline in the market, it is temporarily operating in a stalemate. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will mainly adjust and operate within a narrow range, and the specific trend still needs to pay more attention to changes in supply and demand news.

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