According to the monitoring data of the Business News Agency, as of February 16, 2023, the reference market price of domestic industrial propylene glycol was 8566 yuan/ton. Compared with February 1 (the reference price of propylene glycol was 8066 yuan/ton), the price increased by 500 yuan/ton, or 6.20%.
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It can be seen from the data monitoring chart of the business agency that in the first ten days of February, the domestic propylene glycol market broke calm, the raw material propylene oxide market rose, and the support of propylene glycol from the cost side continued to strengthen. From February 1, the domestic propylene glycol market began to move steadily upward. The downstream demand of propylene glycol is gradually released, and the new orders are mostly purchased on demand. The overall demand of the market is cautious. The rise of propylene glycol is slowing down and running steadily towards the middle of February. As of February 15, the domestic market price of propylene glycol is around 8500-8700 yuan/ton.
In terms of supply, at present, the prophase maintenance devices of propylene glycol have been resumed, and the overall supply of the site is gradually sufficient, and the market support provided by the supply side will be reduced in the short term. In terms of demand, at present, the delivery of propylene glycol is mainly based on export orders, and domestic downstream purchases are mainly based on demand.
Future trend analysis
At present, with the favorable macro policy, the downstream demand will gradually recover, and the propylene glycol industry has a good mentality, with some expectations in the future. The propylene glycol statistician of the business agency believes that in the short term, the domestic propylene glycol market will be able to operate slightly stronger, but affected by the start of the supply end devices and the rise of supply and demand, the market’s sharp rise is limited, and the specific trend needs to pay more attention to the changes in the information on the supply and demand side.
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