According to the commodity market analysis system of Shengyishe, on May 16, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7366 yuan/ton. Compared with May 1 (reference price of propylene glycol was 7650 yuan/ton), the price decreased by 234 yuan/ton, a decrease of 3.70%.

From the commodity market analysis system of Shengyishe, it can be seen that in early May, the domestic propylene glycol market showed a weak downward trend. After Labor Day, the trading volume in the propylene glycol market was light, and the focus of the propylene glycol market continued to explore downwards. As of May 16th, the domestic propylene glycol market price reference was around 7200-7500 yuan/ton.

Analysis of Factors Influencing the Market of Propylene Glycol

In terms of demand: After the May holiday, the downstream demand in the propylene glycol market is weak, with poor new orders and extremely weak overall market volume. It is difficult for the demand side to provide effective support for the propylene glycol market.

In terms of supply: In early May, the overall supply of propylene glycol was sufficient. Under the slow impact of supply and demand transmission, the pressure on the supply side of propylene glycol continued to increase. Factories actively shipped and lowered the price of propylene glycol under pressure.

Upstream epoxy propane: On May 15th, the Shandong epoxy propane market remained stable, with mainstream prices at around 9250 yuan/ton. Currently, the cost support for epoxy propane is average, and supply pressure is temporarily controllable. Downstream procurement is cautious.

Future analysis

At present, there is a strong wait-and-see sentiment in the propylene glycol market, and downstream stocking is still cautious. Recently, the high prices of epoxy propane and carbon dioxide on the cost side will provide some cost support for propylene glycol in the short term, but the overall demand side is still flat. The propylene glycol data analyst from Business Society believes that in the short term, the domestic propylene glycol market will mostly be weak, and the specific trend still needs to pay more attention to changes in supply and demand news.