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Propylene glycol: end of decline in the first quarter

Views: 0     Author: Site Editor     Publish Time: 2022-04-11      Origin: Site

In the past 22 years, the domestic propylene glycol market rose first and then fell, ending with a decline as a whole. The first quarter is coming to an end, and propylene glycol may end with a decline, especially the resurgence of the epidemic in March. In addition, under the conflict between Russia and Ukraine, factory export orders are reduced, and the price of propylene glycol continues to decline. The end of this quarter showed a downward trend compared with the beginning of January, with a decline of 12.5%. Let's briefly analyze the trend of the second quarter.

From the raw material side, the propylene oxide market fluctuated in the first quarter and operated in the low range for most of the 22 years. After the Spring Festival, there was a short wave of rebound, but the sustainability of just demand was not strong, and the market soon stopped rising and fell. The rise of rear ring C mostly depends on the strengthening of the cost side, and it is difficult to have a large amount at the actual demand end. After several hard rises, the stimulating effect of rigid demand is weakened, and the power of the rise to the downstream and terminal replenishment is gradually slowing down. In addition, under the influence of the epidemic, the commencement and logistics of cyclopropane, polyether and terminal markets are limited. In the near future, the partial start-up of cyclopropane is still low, but the price of liquid chlorine is low, the demand is difficult to recover, the future deposit is expected to fall, and the cost support of propylene glycol may be weakened.

On the supply side, after the Spring Festival, the commencement of propylene glycol industry has resumed one after another. At present, the commencement of the industry is relatively sufficient, about 80%. In addition, under the influence of local epidemic, the shipment is blocked and the on-site supply is relatively loose. However, the Depp plant is expected to be overhauled in early April, and the construction may decline at that time.

From the demand side, at present, the downstream soft foam polyether is mainly discussed in the interval, the terminal demand continues to be weak, the polyether factory is in short supply, and the later is expected to be short. In addition, Shandong partially unsealed, the polyether industry started to recover, and the overall supply side was abundant; Poor purchase intention of propylene glycol under the situation of poor delivery. In addition, in terms of unsaturated resin, the high level of crude oil fluctuates frequently, and some resin raw materials fluctuate strongly under the support of cost. However, the terminal marble and the real estate industries involved are also difficult to improve significantly in a short time. The UPR market continues to sort out the range, and the follow-up of propylene glycol demand is also flat. In addition, under the conflict between Russia and Ukraine, PG export orders decreased. Overall, the demand side of propylene glycol is flat.

According to the comprehensive analysis, the propylene glycol industry is fully started at present, and some parts are still affected by the epidemic, and the supply side is loose. The demand side is dull; Expected decline in raw material Po inventory. However, some units are expected to be overhauled. With the propylene glycol price falling to a low level, the decline is limited. It is expected that the domestic propylene glycol market will fluctuate at a low level in the short term. If the epidemic situation of propylene glycol improves in the second quarter, it can be controlled in the domestic or international market. Continue to pay attention to the epidemic situation and supply and demand.

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