MMA Market Hit a Six-Year High

The propylene glycol market continued decreasing this week. As the supply in North China declined, the propylene oxide (PO) market stopped decreasing and the PO price was RMB 12,000/mt. The units in Yankuang Group, Shandong Depu Chemical, Shandong Wells Chemicals and Linggu Chemical underwent maintenance, and did not restart yet.The operating rates in Shandong Shida and Haike Group were in a low level. The propylene glycol factories had less sale pressure. The prices showed a downtrend. The holders were willling to sell their goods in a high price. The negotiation was quite low.

The operating rate in downstream was in a low level, influenced by the environment protection supervision. The demand for propylene glycol was limited, the inventory in part of factories was still sufficient and users had weak interest in stocking goods.

In mid-week, the few low-priced prders were on a need-to basis. Up to August 31, the mainstream quotation of propylene glycol was in the range of RMB 9,100-9,600/mt by acceptance. The dealing prices were flexible.