According to the monitoring data of the Business News Agency, as of March 29, 2023, the reference market price of domestic industrial grade propylene glycol was 8500 yuan/ton. Compared with March 1 (reference price of propylene glycol was 9566 yuan/ton), the price was reduced by 1066 yuan/ton, a decrease of 11.15%.
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As can be seen from the data monitoring chart of the Business Agency, since March (3.1-3.29), the overall domestic propylene glycol market has shown a weak and continuous decline. In early March, supported by high raw material prices, the propylene glycol market experienced a brief upward movement. However, affected by the continued weakness of the downstream demand side, from mid to late March, the focus of the domestic propylene glycol market continued to move downward, with limited new orders and slow transmission of propylene glycol supply and demand. Propylene glycol factories and suppliers have successively lowered the price of propylene glycol, reaching a maximum decline of around 1000 yuan/ton in domestic propylene glycol. As of March 29, the market price of propylene glycol in China is around 8300-8900 yuan/ton.
Future trend analysis
Currently, new orders on the propylene glycol floor are generally traded, with a flat trading atmosphere and strong wait-and-see sentiment in the downstream. The propylene glycol data analyst from the business agency believes that in the short term, the domestic propylene glycol market is mostly weak and subject to narrow range adjustment and operation, and the specific trend needs to pay more attention to the changes in information on the supply and demand side.
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