According to the monitoring data of SunSirs, as of May 11, the ex-factory price of domestic industrial grade propylene glycol referred to 17,900 RMB/ton. Compared with May 1 (reference price 18,100 RMB/ton), the average price was lowered by 200 RMB/ton, a decrease 1.10%.
After the holiday, domestic propylene glycol stabilized after a slight decline
During the May 1st Labor Day holiday, the domestic propylene glycol was operating sideways and steadily as a whole, and there was no significant change in the market. After the holiday, the propylene glycol plant started to operate at a high level, and the inventory on the plant gradually accumulated, and affected by downstream demand, on May 6 and 7, the propylene glycol plant sold at a cut-price after the holiday, and the propylene glycol plant’s offer price was slightly lowered by 100-200 RMB/ton. The price of propylene oxide was high after the holiday, which supported propylene glycol well. Therefore, the price of propylene glycol remained stable after a small fine adjustment.
At present, downstream users of propylene glycol just need to replenish goods, and the transaction volume has basically remained stable. The installation load of propylene glycol production enterprises tends to be normal, and most of the operators choose to ship on the market along with them. As of the 11th, the mainstream ex-factory quotations of propylene glycol in Shandong market referred to 17,500-18,000 RMB/ton, the mainstream ex-factory quotations of propylene glycol in East China market referred to 18,000-18,200 RMB/ton, and the mainstream ex-factory quotations of propylene glycol in South China market referred to 18,300-18,500 RMB/ton.
On the upstream side, after the Labor Day, the domestic propylene oxide market continued to rise. The current operating rate of propylene oxide is relatively high, but the overall pressure is not great for the time being, but the downstream new orders are expected to fade, and the wait-and-see sentiment is gradually increasing after the high price of propylene oxide. As of May 11, the reference price of propylene oxide was 19,400 RMB/ton, an increase of 2.65% compared with May 1 (18,900 RMB/ton).
Demand remains stable, propylene glycol will run at a high level in the short-term
At present, the downstream demand of propylene glycol is relatively stable, and the raw material propylene oxide has formed a favorable support for it. Therefore, the propylene glycol analyst of SunSirs believes that in the short term, the domestic propylene glycol market is mainly maintained at a high level and the actual price is mainly negotiated.
