The market is trending upward within a range; adopt a wait-and-see approach regarding raw materials.

1. Today's Summary

① Focus on equipment fluctuations in the Shandong market.

② On the raw material front, today’s mainstream propylene oxide plant quotation was 10,950 RMB/ton (ex-factory, cash).

2. Spot Market Overview

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

Based on the Shandong region, today’s propylene glycol price settled at 9,100 RMB/ton, marking a week-on-week increase.

Shandong market prices trended upward. During the holiday, major plants maintained low inventory pressure. Strengthening raw material costs provided support, and export orders remained robust, prompting some plants to revise prices upwards. The East China market saw narrow fluctuations as downstream buyers adopted a cautious wait-and-see approach. The South China market edged higher with suppliers actively accepting orders and shipping goods.

3. Production Dynamics

Propylene glycol capacity utilization stood at approximately 50%. Output declined slightly, while profitability improved compared to the previous week.

4. Market Sentiment

Table 2: Domestic Propylene Glycol Upstream and Downstream Participants' Sentiment Forecast

5. Price Forecast

Looking ahead, on the raw material side, the propylene oxide market is consolidating with an upward trend. Downstream sectors have certain rigid demand following the holiday. With raw materials maintaining strength, the market retains support. In the propylene glycol market, upstream raw material prices continue to rise, and upcoming restarts of supply-side units will increase output, keeping participants in a wait-and-see mode. Propylene glycol prices are expected to remain stable with a slight upward bias. Continuous monitoring of unit operations and raw material price trends is advised.

6. Related Product Updates

Unsaturated Resin Market: Prices in East China rose today. Traders sold aggressively according to market conditions, while downstream buyers purchased on demand, primarily in small lots.

Polyether Market: Spot quotations were significantly raised, creating a strong bullish sentiment. Quotations from holders were inconsistent. Some downstream buyers chased the rally to enter the market, but actual transactions remained limited. Key focus should be on downstream buying sentiment and raw material news.

7. Data Calendar

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