Prices have turned downward, and market sentiment remains weak.

1. Today's Summary

① The Phase I unit of Deppu has restarted, leading to an expected increase in theoretical supply this week.
② On the raw material side, spot prices for propylene oxide have softened. Although cost support remains, market sentiment has weakened.
③ Market customers still show low acceptance of current propylene glycol prices.

2. Spot Market Overview

Table 1: Domestic Propylene Glycol Industry Chain Price Summary (Unit: CNY/ton)

Using the Shandong region as a benchmark, today’s Shandong propylene glycol prices closed at 8,900–9,800 CNY/ton, showing a decline compared to the previous period.

Prices in the Shandong market fell. While some factories delivered on prior orders, spot trading activity remained sluggish. The East China market declined simultaneously, with downstream buyers making only minimal purchases based on rigid demand. In the South China market, negotiations dominated; producers actively pushed shipments, but customer purchasing enthusiasm was low, with most parties adopting a wait-and-see approach.

3. Production Dynamics

Propylene glycol capacity utilization is approaching 60%. Output has increased, while profitability levels have declined.

4. Market Sentiment

Table 2: Domestic Propylene Glycol Upstream and Downstream Practitioner Sentiment Forecast

5. Price Forecast

Looking ahead, as primary raw material propylene oxide prices begin to soften, market sentiment has turned bearish. Currently, domestic and international trade transactions are difficult at existing price levels. Some traders holding inventory are actively selling off positions, while downstream manufacturers with rigid production needs are making small-scale purchases, maintaining a strong wait-and-see attitude. Without significant temporary support from raw material price surges, the short-term domestic propylene glycol market is expected to remain weak due to competitive bargaining. Buyers are waiting for further price declines.

6. Related Product Updates

Unsaturated Resin Market: Prices in East China rose today. Traders actively sold according to market trends, while downstream buyers purchased on demand, with small-lot transactions prevailing.

Polyether Market: Spot offers stabilized, but holders gradually lowered prices to stimulate sales. Bearish sentiment within the market intensified, resulting in limited inquiries and operations. Small-lot purchases based on demand were the norm. Key focus should be placed on downstream market entry sentiment and raw material news.

7. Data Calendar

Table 3: Domestic Propylene Glycol Data Overview (Unit: Tons)

Note:

1. ↓↑ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates minor fluctuation, highlighting data dimensions with changes within 0–3%.