According to the commodity market analysis system of Shengyishe, on May 11, 2024, the reference market price of domestically produced industrial grade propylene glycol was 7500 yuan/ton. Compared with May 5 (reference price of propylene glycol was 7650 yuan/ton), the price was reduced by 150 yuan/ton, a decrease of 2.37%.

From the commodity market analysis system of Shengyishe, it can be seen that in the first week after May Day Labor Day, the overall domestic propylene glycol market continued to be weak and decline. Looking back at the pre holiday period, the overall pre holiday stocking performance of the propylene glycol market was poor. However, with the return after the holiday, the propylene glycol market did not receive effective market support. The trading atmosphere on the propylene glycol market remained weak, with poor new order inquiries. The downstream demand side continued to be weak, and the focus of the propylene glycol market continued to explore downwards. As of May 11th, the domestic propylene glycol market price is around 7300-7600 yuan/ton.

In terms of upstream epoxy propane: After the holiday, the overall epoxy propane market in Shandong region remained stable at a high level, with a reference price of 9225 yuan/ton on May 11th. The high and stable operation of epoxy propane has not reduced the cost pressure on the propylene glycol market, and the overall pressure on the propylene glycol market has declined during the week.

Future analysis

At present, downstream demand for propylene glycol is still sluggish, and there is a strong wait-and-see sentiment on the market. However, with high cost prices and almost bottoming out prices, the risk of a significant downturn in the propylene glycol market in the future is relatively small. A propylene glycol data analyst from Business Society believes that in the short term, the domestic propylene glycol market will mainly undergo narrow adjustments, and the specific trend still needs to pay more attention to changes in fundamental news.