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SunSirs: The Market for Ppropylene Oxide Was Temporarily Stable on February 27
February 28 2020 10:15:45SunSirs(John)

Price trend

According to the monitoring data of SunSirs, the market for propylene oxide was temporarily stable on February 27, with an average price of 9,033.33 RMB/ton, which was flat compared with February 26 and down 10.86% compared with January 1. On the February 27, the mainstream domestic propylene oxide price was around 8,800 ~ 9,100 RMB/ton.


Analysis review   


On February 27, the market for propylene oxide was temporarily stable. The load of the northern propylene oxide plant has increased, and the market supply has increased slowly. The Jinling plant has not yet started, the inventory pressure is controllable, and downstream procurement is the main requirement. The trading atmosphere is light. On the 27th, the cash delivery price of Wanhua Chemical Shandong mainstream market was 9,100 RMB/ton. At present, the mainstream quotation of propylene oxide market in East China is around 8,800-9,100 RMB/ton, and the mainstream quotation of propylene oxide market in Shandong area is around 8,800-8,900 RMB/ton.

The propylene oxide commodity index on February 27 was 56.22, which was the same as the previous day. It was 44.44% lower than the highest point of the cycle at 101.18 points (2011-10-26) and 34.82% higher than the lowest point of 41.70 points on January 25, 2016. . (Note: Period refers to 2011-09-01 to now)

Industrial chain: 

On February 27, the market price of upstream propylene in Shandong area dropped significantly. The current market turnover is around 6,300 ~ 6,700 RMB/ton, the mainstream price is between 6,300 ~ 6,400 RMB/ton. At present, there are still a lot of equipment out of production and maintenance in the upstream, and it is difficult to recover the supply in the short term. The propylene output is still small, but the terminal manufacturers have begun to resume work, logistics and transportation have also resumed. In the later period, there is expected to further recover the downstream of propylene oxide and acrylonitrile. The demand for propylene has increased significantly and the trading atmosphere has improved. It is expected that the market price of propylene may drop in the short term.


Market outlook

Propylene oxide analysts of SunSirs believe that the recent decline in raw material propylene prices and insufficient cost support. At present, some propylene oxide plants are actively shipping, and the end market demand is recovering. It is expected that in the short term, the propylene oxide market may be operating with a weak wait-and-see attitude. More attention needs to be paid to the start of main factories and downstream demand.


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