According to the monitoring data of the Business News Agency, as of February 22, 2023, the market price of domestic industrial grade propylene glycol was 8966 yuan/ton. Compared with February 1 (the reference price of propylene glycol was 8066 yuan/ton), the price increased by 900 yuan/ton, or 11.16%. On February 22, the domestic market price of propylene glycol was around 8800-9300 yuan/ton.

It can be seen from the data monitoring chart of the business agency that from February to now (2.1-2.22), the overall domestic propylene glycol market has shown a steady upward trend. The main driving force supporting the continuous rise of the propylene glycol market is mainly from the joint support of raw material cost, on-site supply side inventory and demand. Let’s look at the supply, cost and demand of propylene glycol from February to now.

In terms of cost: the market of propylene oxide as raw material keeps rising, the support given by the cost of propylene glycol keeps increasing, and the focus of the propylene glycol market keeps getting closer.

In terms of supply: At present, domestic propylene glycol pre-holiday maintenance devices have been started in succession, and some factories mainly deliver export orders in the early stage, so the overall inventory of propylene glycol in the field is relatively controllable.

Demand: In February, the downstream demand for propylene glycol in China was gradually released. After the digestion of some downstream raw materials, the demand for propylene glycol market performed well at the stage, and the overall demand for propylene glycol was given some support.

Future trend analysis

At present, with the gradual warming of the weather, the downstream demand of the terminal will gradually recover. The propylene glycol field operators have expectations. The propylene glycol statistician of the business agency believes that in the short term, the domestic propylene glycol market will mostly continue to run at a high level, and the specific trend needs to pay more attention to the changes in the information on the supply and demand side.