The price of the raw material, propylene oxide, has stabilized, providing support and leading to a slight improvement in transaction volumes.

1. Daily Summary

① International crude oil prices rose, and the price of propylene oxide (PO) stabilized, providing slight support to market sentiment for propylene glycol (PG).

② On the supply side, low operating rates continued, maintaining support for prices.

③ Trading activity in the PG market improved slightly today; however, customers still perceived prices as high, resulting in limited overall acceptance. Transactions remained primarily driven by cautious end-user demand.

2. Spot Market Overview

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

Based on the Shandong region, domestic PG prices closed at 9,000–9,700 CNY/ton today, remaining stable compared to the previous period.

By market: The price range in Shandong remained stable with a slight improvement in transaction volume. In East China, price ranges adjusted, with downstream buyers procuring based on essential needs at lower levels. In South China, negotiations were dominant, with transactions occurring at the lower end of the price spectrum.

3. Production Dynamics

The capacity utilization rate for propylene glycol was 53.24%, indicating a decline in output, while profitability levels were revised upward.

4. Market Sentiment

Table 2: Sentiment Forecast from Domestic Propylene Glycol Supply Chain Participants

5. Price Forecast

Looking ahead, trading activity in the PG market showed signs of recovery today, with downstream buyers focusing on opportunistic procurement for essential needs. However, cautious wait-and-see sentiment persists among customers, as relatively high prices have somewhat suppressed purchasing enthusiasm. Given that low-price inventory is gradually disappearing, combined with continued low operating rates and a rebound in upstream propylene oxide prices after hitting a bottom, domestic propylene glycol prices are expected to remain stable amid a wait-and-see trend.

6. Related Product Status

Unsaturated Resin Market: Prices in East China remained stable today. Traders actively sold goods following market trends, while downstream buyers purchased according to actual demand, with small-lot transactions being predominant.

Polyether Market: The spot market continued its downward trend. Trading sentiment within the market was weak, with holders continuing to offer discounts to negotiate sales. Downstream buyers entered the market primarily for essential needs. Key focus remains on downstream buyer sentiment and raw material news.

7. Data Calendar

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