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SunSirs: No Pressure on Factory Inventory, Propylene Oxide Prices Rose (July 20-27)
July 29 2020 08:19:00SunSirs(John)

Price trend

Analysis review

The propylene oxide market has risen recently. According to the data of SunSirs’ bulk list, as of July 27, the average price of propylene oxide companies was 11,000 RMB/ton, which was an increase of 9.27% compared with last Monday (July 20), compared with June 27 ( 10,100 yuan / ton) compared with an increase of 8.91%. At present, there is no pressure on the inventory of propylene oxide plants, and the operating rate in the north has dropped slightly. This supports manufacturers to maintain a market mentality. Some downstream costs are under pressure, and follow-up is acceptable. The terminal is increasingly resistant to high-priced raw materials and mainly purchases on demand.

Upstream propylene, on July 27, the market price of propylene in Shandong continued to decline. According to the price monitoring data of SunSirs, the price of propylene has fluctuated up and down cyclically recently, and the fluctuating price range is relatively stable. On the 27th, the market turnover was between 6,620 and 7,000 RMB/ton, and the mainstream price was around 6,650 RMB/ton. At present, the inventory pressure of propylene manufacturers is not large, sales are flat, crude oil prices are slightly lowered, the overall downstream market operating rate is acceptable, and the PP futures market is slightly up. After the price reduction on weekends, most of the current propylene market prices have been near the lower limit of the shock range, and the downstream replenishment cycle is approaching, and the purchasing enthusiasm is slightly increased. Therefore, it is expected that the propylene price may begin to stabilize for a short time in recent days.

According to the price monitoring data of SunSirs, as of July 27, the average reference price of domestically produced n-propanol containing packaging in mainstream areas was around 11,900 RMB/ton, which was the same as the price at the beginning of the month. As of July 27, downstream soft foam polyether, raw material prices have risen, costs are under pressure, and high-end products in the south continue to be tight, market prices have risen broadly, and the downstream are increasingly resistant to high prices, and just need to purchase.

Market outlook

The propylene oxide analyst of SunSirs believes that the price of raw material propylene has declined recently, and the profit margin of propylene oxide has further increased. Plants generally have no inventory to support manufacturers. The mid-stream and downstream maintain on-demand procurement. Terminals are increasingly resistant to high prices. Within the market, the propylene oxide market may digest the increase mainly, and the specific trend requires more attention to the guidance of various aspects of the market.

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