According to monitoring data from Business Society, as of July 25, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 7800 yuan/ton. Compared with July 1 (reference price of propylene glycol 7166), the price increased by 667 yuan/ton, an increase of 8.84%.
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From the data monitoring chart of Business Society, it can be seen that since July (7.1-7.25), the overall domestic propylene glycol market has shown a “first decline and then rise” operating trend. In early July, the propylene glycol market was generally weak and slightly declining, with a high cost side providing some cost support for propylene glycol. However, downstream demand performance was poor and demand was dragging down. In the early stages of July, the overall decline in the propylene glycol market was the main trend. As of July 15th, the domestic propylene glycol market price was referenced around 7000-7300 yuan/ton, and the high price was referenced around 7500 yuan/ton.
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In late July, the domestic propylene glycol market as a whole experienced a rebound, with some propylene glycol plants being shut down for maintenance. The on-site supply of propylene glycol decreased, and the spot circulation was tight. The tight prices were good, and the propylene glycol market began to rise strongly. The market center was moving upwards. As of July 25th, the domestic propylene glycol market price was around 7700-7900 yuan/ton, with a 10.38% increase in late July.
Analysis of Future Market Trends
At present, after the propylene glycol market has risen to a relatively high level, the wait-and-see sentiment on the market has become stronger, downstream stocking has gradually become cautious, and the trading atmosphere on the market is relatively mild. The propylene glycol data analyst of the business company believes that in the short term, the domestic propylene glycol market will mostly adjust and operate 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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