According to monitoring data from Business Society, as of November 8, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 8100 yuan/ton, which was basically unchanged compared to early November. Compared to October 1 (propylene glycol reference price 8466), the price was reduced by 366 yuan/ton, a decrease of 4.33%.

Looking back on October, the domestic propylene glycol market can be described as “not yet in the silver decade, but encountering a cold winter”. In October, the propylene glycol market continued to move towards low levels amidst fluctuations. Entering November, the market situation has reached a low point in the early stage, and the profit of propylene glycol has been continuously narrowing. Therefore, although the current demand is still average, some propylene glycol manufacturers and suppliers are not willing to continue to lower prices, and have a strong desire for stability and growth. However, without obvious positive support, the market is difficult to rise, and the overall market has entered a stage of weak stability and consolidation. As of November 8th, the domestic propylene glycol market price has entered the range of 7900-8300 yuan/ton.

A brief analysis of the current supply and demand situation of propylene glycol:

On the supply side: Currently, there are devices in the propylene glycol field that are still undergoing maintenance, but due to weak demand, the overall supply of propylene glycol is still relatively loose, and the pace of shipment is slow, resulting in a stalemate in supply and demand transmission.

In terms of demand: Currently, downstream demand for propylene glycol is showing signs of looseness, with limited support from the demand side to the market. New inquiries on the market have followed up coldly, while downstream orders are mainly bought and used, resulting in a strong wait-and-see sentiment.

Analysis of the Future Market of Propylene Glycol

At present, the overall trading atmosphere in the domestic propylene glycol market is light. Although the slight rebound in the raw material side has provided a slight boost to the cost support of propylene glycol, the demand side has always constrained the market, and there is still some bearish sentiment on the market. The propylene glycol data analyst of the business company believes that in the short term, the domestic propylene glycol market will mainly adjust and operate in a narrow range, and more attention needs to be paid to the changes in news on the supply and demand side.