According to monitoring data from Business Society, as of June 30, 2023, the market price of domestically produced industrial grade propylene glycol was referenced at 7166 yuan/ton. Compared with June 1 (reference price of 7400 yuan/ton of propylene glycol), the price was reduced by 234 yuan/ton, a decrease of 3.15%.

From the data monitoring chart of Business Society, it can be seen that in the first half of 2023, the overall market situation of domestic propylene glycol showed a rise followed by a decline, and finally ended with a slight decline. In the first quarter, the overall propylene glycol market showed an upward trend, with tight spot supply of propylene glycol and good downstream demand. Supported by both supply and demand, propylene glycol increased by 8.11% in January and 16.94% in February. In March, downstream demand for propylene glycol weakened, and propylene glycol opened a high point and fell back, with a decrease of 12.54% in March.

In the second quarter, the overall market situation of propylene glycol showed a slight increase followed by a weak decline. In April, some devices were shut down for maintenance, and the supply of propylene glycol tightened. The supply side supported the upward movement of the market, and propylene glycol rose 4.38% in April. In May, downstream demand for propylene glycol did not boost significantly, with loose support on the demand side, resulting in a decrease of 8.02% in propylene glycol. In June, the propylene glycol market continued to operate in a weak downward trend, with insufficient effective support on the market. In June, propylene glycol fell by 10.79%.

Analysis of Future Market Trends

At present, the trading atmosphere in the domestic propylene glycol market is relatively light, and there is a strong wait-and-see sentiment on the market. New orders are generally traded, and the propylene glycol data analyst from the business company believes that in the short term, the domestic propylene glycol market is mainly subject to narrow adjustment and operation, and the specific trend still needs to pay more attention to changes in supply and demand news.