According to monitoring data from Business Society, as of April 9, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7700 yuan/ton. Compared with March 1 (reference price of propylene glycol was 8100 yuan/ton), the price was reduced by 400 yuan/ton, a decrease of 4.94%.
Although “Golden March Silver April” has arrived, the market trend of propylene glycol in China still seems to be stuck in “winter”. Starting from early March, the domestic propylene glycol market has been weak and declining, with a cold trading atmosphere on the exchange and a continuous decline in market focus. In March, propylene glycol fell by 4.12%. Entering April, the decline in the propylene glycol market has not stopped, and there is insufficient support from positive market conditions. After the Qingming Festival, the focus of the propylene glycol market continues to move towards a low level. As of April 9th, the domestic propylene glycol market price reference is around 7600-7800 yuan/ton.
Analysis of influencing factors
In terms of demand: Entering March, downstream demand for propylene glycol is still slowly recovering, and the overall demand in the propylene glycol market has always performed poorly, making it difficult for the demand side to provide effective support to the propylene glycol market.
On the supply side, the overall downstream production of propylene glycol is relatively low, with limited transactions of new orders on the market. The supply and demand transmission is slow, and the pressure on the propylene glycol supply side increases. The support provided by the supply side for propylene glycol is also insufficient. Taking into account both supply and demand, the overall favorable support for the propylene glycol market is difficult to find, and the market situation is under pressure and is declining.
Future analysis
At present, the trading atmosphere of propylene glycol on the market is light, and the mentality of the industry is average. There is a certain wait-and-see and worried sentiment in the market. The propylene glycol data analyst of Business Society believes that in the short term, the domestic propylene glycol market will mainly adjust in a narrow range, and the specific trend still needs to pay more attention to changes in supply and demand news.
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