According to monitoring data from Business Society, as of January 31, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7900 yuan/ton. Compared with January 1 (reference price of propylene glycol was 8300 yuan/ton), the price was reduced by 400 yuan/ton, a decrease of 4.82%.
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From the monitoring chart of Business Society data, it can be seen that in January, the overall domestic propylene glycol market showed a weak and declining trend. The propylene glycol market lacks effective support, and the market price center is constantly moving towards a low level. As of January 31, the domestic propylene glycol market price is referenced around 7800-7900 yuan/ton, with a monthly price reduction of about 350-450 yuan/ton, a decrease of nearly 5%.
Factors influencing the market situation of propylene glycol:
In terms of demand: In early January, the overall trading atmosphere in the propylene glycol market was light, with flat new orders on the market and insufficient support from the demand side for propylene glycol. In late January, downstream propylene glycol was stocked in a small area before the holiday, and the demand side slightly improved. However, the wait-and-see sentiment on the market remained unchanged, and the overall support for propylene glycol remained weak. The market continued to operate weakly.
In terms of supply: At the end of the fourth quarter of 2023, some regions will start production, and the overall supply of propylene glycol will increase. The loose performance of the supply side will put some supply pressure on the propylene glycol market, so the overall supply side will provide limited market support for propylene glycol.
Market analysis of propylene glycol
At present, as the Spring Festival holiday approaches, the wait-and-see atmosphere in the propylene glycol market is still strong. The overall mentality of propylene glycol operators is average, and there is some concern about the future market in the market. With the arrival of the holiday, logistics transportation in some regions of China has also begun to shut down one after another. Although downstream demand is generally average, the propylene glycol market is expected to fluctuate limited. According to the propylene glycol data analyst from Business Society, in the short term, the overall operation of propylene glycol markets in China will be mainly calm, The specific trend still needs to pay more attention to the changes in supply and demand news.
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