Propylene glycol: the market continues to bottom under the epidemic

Recently, with the concentrated outbreak of the epidemic, the propylene glycol market, which was originally expected to bottom, continued to suffer from weak shocks. Last week, with the improvement of propylene glycol shipment, the industry's view on its future market has been reversed. However, after entering this week, the epidemic has occurred frequently everywhere, especially in Shandong, the main camp. The logistics is limited and the factory shipment is blocked. In addition, the domestic propylene glycol market continues to bottom out and shows a downward trend as a whole.

In terms of raw materials, the recent trend of huanc has declined, the weak demand superimposed the impact of the epidemic, and the actual shipment has been blocked. At present, the expectation of liquid chlorine is weak and volatile, propylene is driven by crude oil, the deposit rises slightly, and the cost support is not strong. In addition, under the influence of public health events, the terminal demand is weak; On the supply side, at present, Po starts in the north are low, especially Jinling maintenance, which has a certain positive support; However, the construction in East and South China is stable, and imported goods from East China have arrived in Hong Kong. However, in the case of limited inter regional logistics, the supply side of Shandong has little support; On the whole, the demand is insufficient, while the supply is slightly supported, and the propylene oxide Market is mainly on the sidelines. The benefit of the cost side to propylene glycol is limited.

At present, the propylene glycol industry is under construction. This week, Depp's small devices were not restarted on time, and the industry started at about 80%. In addition, the shipment was not smooth during the week, and the on-site supply was loose, releasing bad news.

On the demand side, the downstream polyether operated in shock. With the sharp rebound of crude oil, individual factories took advantage of the trend to push up, while East and South China maintained a rising trend, but Shandong's offer remained stable. Although individual offers increased, it was mainly based on real orders and more negotiations. Affected by the epidemic, the start-up of polyether industry has declined, but under the condition of limited shipment, the factory inventory is generally high; The downstream and terminal industries are underemployed, and the demand for polyether is slow to follow up. It is expected that the short-term polyether market will be sorted out and tested, and the commercial investment will still be cold. Poor purchase intention for propylene glycol. In addition, unsaturated resin is supported by crude oil, and some resin raw materials seek support in the shock. However, the situation in the later stage is still not optimistic. At present, the improvement of UPR operating rate is limited. Affected by the severe epidemic situation in various parts of China, the demand is not ideal, and the export situation in the south is general, enterprises are cautious about the demand prospect. Weak consolidation in the aftermarket or stalemate of UPR. Demand for propylene glycol is also poor.

According to comprehensive analysis, propylene glycol is currently under construction, and the shipment of new orders slows down, and the supply side tends to be loose. The downstream unsaturated resin started poorly. Although the market of polyether showed signs of rebound, the operation declined and the demand for propylene glycol decreased; The raw material Po is quite volatile. It is expected that the domestic propylene glycol market will continue to fluctuate at a low level in the short term, and the high level will continue to loosen. We will continue to pay attention to the epidemic situation and supply and demand.