According to the monitoring data of the business community, as of October 27, 2022, the average ex factory price of domestic industrial propylene glycol was 8100 yuan/ton, and as of October 1 (the reference price of propylene glycol was 9566 yuan/ton), the price decreased by 1466 yuan/ton, or 15.33%.
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It can be seen from the data monitoring chart of the business community that the domestic propylene glycol market in October showed a weak overall decline. After the National Day holiday, the propylene glycol market began to run down broadly. As of October 13, the market price of propylene glycol dropped to about 8666 yuan/ton, with a drop of more than 9% on the sixth day. Then, the decline of propylene glycol continued, and the effective support in the field was insufficient. In late October, the center of gravity of propylene glycol continued to decline. The main reasons for the continuous decline of propylene glycol market are as follows:
1、 In terms of cost, in the first ten days of October, the raw material propylene oxide market fluctuated, giving propylene glycol a general support. In the last ten days of October, the propylene oxide market continued to decline, giving propylene glycol a loose cost support. In the last ten days, propylene glycol trend “follows the original downward trend”.
2、 In terms of demand, after the National Day holiday, the downstream demand of propylene glycol has always been average, and the purchase has been cautious. Users have replenished in an appropriate amount, and the transmission of propylene glycol supply and demand is slow. Therefore, in the case of weak supply and demand support, the propylene glycol market price has been adjusted downward one after another.
As of October 27, the domestic propylene glycol market price is around 8000-8300 yuan/ton, and the monthly price decrease is around 1000-1600 yuan/ton. At present, the wait-and-see atmosphere in the propylene glycol market is still strong.
As for the upstream propylene oxide, the domestic propylene oxide market has generally declined since October (10.1-10.26). According to the data monitoring of the business community, the reference price of propylene oxide was 9833.33 yuan/ton on October 26, a decrease of 2.64% compared with that on October 1 (10100 yuan/ton).
Future trend analysis
At present, the downstream demand of propylene glycol is generally boosted, and the supply side shipment is positive. The propylene glycol data engineer of the business community believes that in the short term, the propylene glycol market is dominated by weak consolidation and operation, and more attention should be paid to the information changes on the supply and demand side.
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