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SunSirs: Weak demand, propylene oxide prices fell on March 11
March 13 2020 09:10:52SunSirs(Molly)

1. Price Trend:

According to SunSirs data, the market for propylene oxide fell on March 11. The price of raw materials has fallen, but the cost is still under pressure, and the enthusiasm for downstream operations is not high. Just to purchase, some factories are mainly shipping, and the focus of negotiation has dropped. As of the 11th, the average price of propylene oxide enterprises was 8633.33 yuan / ton, which was 1.15% lower than the 10th. Taking a half-year cycle, it fell by 16.72% year-on-year. On the 11th, the cash delivery price of Wanhua Chemical Shandong mainstream market was 8800 yuan / ton. At present, the mainstream quotation of propylene oxide market in East China is around 8500-8700 yuan / ton, the mainstream quotation of propylene oxide market in Shandong area is around 8300-8400 yuan / ton, and the mainstream quotation of propylene oxide market in south China is around 8400 yuan / ton. The mainstream quotation of propylene oxide market on the 11th was around 8300 ~ 8800 yuan / ton.

2. Market analysis:

Product: The propylene oxide commodity index on March 11 was 53.73, a decrease of 0.63 points from yesterday, and a decrease of 46.90% from the highest point of the cycle at 101.18 (2011-10-26), which was 41.70 from the lowest point of January 25, 2016 The point rose 28.85%. (Note: Period refers to 2011-09-01 to present)

Industry chain: On March 11, the market price of upstream propylene in Shandong area fluctuated slightly. At present, the market transaction is still 6500 ~ 6800 yuan / ton, and the mainstream price is 6500 yuan / ton. A few days ago, affected by the OPEC meeting, international crude oil plummeted. Affected by the hopes of the economic stimulus plan and cutbacks by US producers today, US oil jumped another 8%. And because the propylene plant's output and inventory are low, the market supply is not abundant, so the propylene market has previously declined less. Today is up and down. It is expected that the price of propylene may remain stable for a short period of time, and the market outlook may be greatly affected by crude oil. On the 11th, downstream polyether and raw material prices fell. Cost support has weakened, and downstream industries have recovered slowly. Market sentiment was deserted and the downward trend continued.

Industry: According to the price monitoring of SunSirs, there are 8 types of commodities in the chemical sector that have risen in the commodity price list on March 11, 2020. The top three commodities are liquid ammonia (2.50%) and ammonium chloride (2.19%). ), Fluorite (0.99%). There were 19 types of products with a month-on-month decrease, and 1 type of products with a decline of more than 5%, which accounted for 1.1% of the number of monitored products in this sector; the top 3 products were OX (-10.71%) and hydrogenated benzene (-4.05 %), Acetone (-4.00%). The average daily increase or decrease was -0.37%.

3. Market Forecast:

SunSirs propylene oxide analysts believe that the price of raw materials has fallen recently, but the cost of propylene oxide is still under pressure and the demand side is weak. It is expected that in the short term, the propylene oxide market may consolidate and wait-and-see operation. More attention needs to be paid to changes in raw material prices and transactions in mainstream markets.

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