According to monitoring data from Business Society, as of December 25, 2023, the reference market price of domestically produced industrial grade propylene glycol was 8300 yuan/ton. Compared with December 1 (reference price of propylene glycol was 8066 yuan/ton), the price increased by 234 yuan/ton, an increase of 2.89%.
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From the monitoring chart of Business Society data, it can be seen that in December, the overall domestic propylene glycol market experienced an upward trend. In the first ten days, the domestic propylene glycol market saw a narrow increase, with an increase of 0.83% in the first ten days. In the later stage, the overall upward trend of the domestic propylene glycol market has relaxed, with a 2.05% increase in the second half of the year. As of December 28th, the domestic propylene glycol market price is around 8200-8400 yuan/ton.
Analysis of supporting factors for the upward trend of propylene glycol market:
In terms of supply: As we enter December, the overall operating rate of the domestic propylene glycol market is low. Due to the continued weak downstream of propylene glycol in the early stage, some factories have delayed the maintenance of propylene glycol equipment. Although downstream demand is average, with the slow shipment of propylene glycol on site, the pressure on the supply side of propylene glycol is gradually decreasing, and supply in some regions is tightening. Therefore, after entering December, the supply side has provided certain support to the propylene glycol market.
In terms of exports: In mid December, the overall export orders for propylene glycol increased, and the improvement in export demand combined with the overall tight supply in the market supported a broad upward trend in the propylene glycol market.
Market analysis of propylene glycol
At present, the overall trading atmosphere in the propylene glycol market is mild, and the mentality of propylene glycol operators is good. The overall supply side pressure on the market is relatively small, but after small-scale downstream stocking, demand has weakened. According to the propylene glycol data analyst from Business Society, in the short term, the domestic propylene glycol market is mainly subject to narrow range adjustment and operation, and the specific trend still needs to pay more attention to changes in supply and demand news.
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