【China MPG】Propylene glycol market morning reminder (20201231)
Yesterday, the domestic propylene glycol market negotiated the price hike in a narrow range. The overall operating load of the manufacturers was low, the spot supply was tight, and the traffic restrictions in the northern region made shipments inconvenient. The manufacturers delivery is slow. The raw material propylene oxide continues to rise. Propylene glycol manufacturers’ negotiated prices also continue to rise. The downstream mainly wait and see under such high prices. Only rigid demand orders remain.
As the raw material propylene oxide price continues to rise and the cost expenditure continues to increase, some manufacturers temporarily stop production for equipment maintenance, while the rest of the manufacturers facilities are under low load and short of spot supply. Furthermore, delivery and transportation also affected by the snowy weather in the north & east of China.
It is expected that today’s negotiations will continue to be strong.
