China PG: After the price rises again, it stabilizes.
This week, the domestic propylene glycol #market price stabilized after rising. Domestic downstream #demand is still weak, and the price of raw material #propylene #oxide has fallen. However, due to the continued delay in the start of Wells plant, the temporary shutdown of the Zhetie plant, and some export orders, the factories’ #inventory turned to a low level therefore the market offer rose. Entering the post-week period, the market is dominated by the digestion of pre-orders, the follow-up of new negotiations is limited, and prices tend to stabilize.
At present, the Zhetie’s plant has been restarted, focusing on the delivery impact by the #pandemic at local city. In addition, Shandong Shunxin also has plan to shut down, and there is still uncertainty about the restart of Wells. It is expected that the #domestic propylene glycol market will fluctuate and stablilize next week.
