January Propylene Glycol Market Prices Keep Rising

January 29th, News

I. Price Trends

According to the commodity market analysis system, the price of isopropanol in January has increased. On January 1st, the average price of isopropanol in China was 5,176.66 CNY per ton, and by January 29th, the average price had risen to 5,716.67 CNY per ton, an increase of 10.43% compared to the beginning of the month.

In January, the market price of isopropanol in China increased. In the first ten days, the purchasing intention from end-users was average, and intermediaries were cautious in their operations, showing a clear tendency to hold back from selling, which led to a stalemate in market prices. In the middle of the month, the price of upstream acetone increased, and the cost support boosted the market confidence for isopropanol, leading to an upward trend in market prices. In the last ten days, the isopropanol market continued to rise. Major manufacturers raised their quotations, and the sentiment among holders was positive, with offers rising in tandem. As of now, most quotations for isopropanol in Shandong are around 5,600-5,700 CNY/ton; in Jiangsu, most quotations are around 5,700-5,800 CNY/ton.

Regarding acetone raw materials, China's acetone market prices rose in January. On January 1, the average price of acetone was 4,092.5 CNY per ton, while on January 29, the average price had risen to 4,800 CNY per ton—a price increase of 17.29%. Looking ahead, the Chinese acetone market is expected to remain volatile yet generally strong in the short term, with manageable supply-side pressures and robust cost support.

Regarding propylene raw materials, China's propylene market prices rose in January. On January 1, the average market price was 5,717.67 CNY/ton, and by January 29, the average price had risen to 6,411 CNY/ton, representing a price increase of 12.13%. Currently, supply within the market remains tight, and producers' inventories are at low levels. It is expected that the market will mainly experience volatile consolidation in the near term.

III. Future Market Forecast

Chemical sector isopropanol analysts believe: In January, the market price of isopropanol has increased. Currently, the prices of raw materials, acetone and propylene, are high, providing strong cost support. The mentality of the holders is positive, and manufacturers continue to raise prices. It is expected that in the short term, the isopropanol market will remain strong, with close attention to the trends in the raw material market.