Price trend
According to the monitoring data of SunSirs, as of December 02, the ex-factory price of domestic industrial-grade propylene glycol was referenced to 11,266.67 RMB/ton. Compared with November 30, the average price was lowered by 1,400 RMB/ton, a decrease of 10.82%; Compared with November 1, the average price was increased by 1,930 RMB/ton, an increase of 20.71%.
Raw materials fell sharply at the beginning of the month, and propylene glycol fell sharply
At the beginning of this month, the domestic industrial-grade propylene glycol market saw a sharp decline. The raw material propylene oxide has dropped sharply in recent days, and the cost support for propylene glycol has been weakening. Propylene glycol holders began to cut prices, and the market continued to fall on the first two days of the month. Factory offers were lowered one after another, with a reduction rate of around 1,000-2,000 RMB/ton. On the demand side, the high quotations in the early period and the rapid downturn at the beginning of the month were at least strong in downstream wait-and-see sentiment, and continued to be bearish. The supply and demand replenishment was mainly cautious. The data from SunSirs learned from industry stakeholders that the current market for propylene glycol had sufficient supply, and the downstream supply was not large.
On the upstream side, near the end of November, the domestic propylene oxide market began to decline weakly. Within a week, the market fell from around 19,000 RMB/ton to around 17,000 RMB/ton. After December, the propylene oxide market continued to decline. . As of December 02, the average quotation price of propylene oxide companies was 17,166 RMB/ton, a decrease of 11.05% compared with a week ago (November 25). .
Inventory has accumulated, downstream cautiously wait and see, the market outlook may continue to decline
At present, the downstream demand of domestic industrial grade propylene glycol is general, and the downstream is cautious in obtaining goods, mainly waiting and watching, and the inventory has accumulated. The current market cost and demand are both showing weakness, so the propylene glycol data engineer of SunSirs believes that in the short term, the propylene glycol market may continue to decline slightly.
