SunSirs: Demand Dragged Down, and Propylene Glycol Fell by 3.70% in Early May

https://www.chemnet.com   May 20,2024 SunSirs

　　Price trend

　　According to the commodity market analysis system of SunSirs, on May 16, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7,366 RMB/ton. Compared with May 1 (reference price of propylene glycol was 7,650 RMB/ton), the price decreased by 234 RMB/ton, a decrease of 3.70%.

　　Analysis review

　　From the commodity market analysis system of SunSirs, it can be seen that in early May, the domestic propylene glycol market showed a weak downward trend. After Labor Day, the trading volume in the propylene glycol market was light, and the focus of the propylene glycol market continued to explore downwards. As of May 16th, the domestic propylene glycol market price reference was around 7,200-7,500 RMB/ton.

　　Analysis of Factors Influencing the Market of Propylene Glycol

　　In terms of demand: After the May holiday, the downstream demand in the propylene glycol market was weak, with poor new orders and extremely weak overall market volume. It was difficult for the demand side to provide effective support for the propylene glycol market.

　　In terms of supply: In early May, the overall supply of propylene glycol was sufficient. Under the slow impact of supply and demand transmission, the pressure on the supply side of propylene glycol continued to increase. Factories actively shipped and lowered the price of propylene glycol under pressure.

　　Upstream propylene oxide: On May 15th, the Shandong propylene oxide market remained stable, with mainstream prices at around 9,250 RMB/ton. As of May 16th, the cost support for propylene oxide was average, and supply pressure was temporarily controllable. Downstream procurement was cautious.

　　Market outlook

　　As of May 16th, there was a strong wait-and-see sentiment in the propylene glycol market, and downstream stocking was still cautious. In the near future, the high prices of propylene oxide and carbon dioxide on the cost side will provide some cost support for propylene glycol in the short term, but the overall demand side is still flat. The propylene glycol data analyst from SunSirs believes that in the short term, the domestic propylene glycol market will mostly be weaker, and the specific trend still needs to pay more attention to changes in supply and demand news.

 Print  |    add to Favorites  |    Close