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SunSirs: Propylene Oxide Prices Went Up Due to Tight Supply,
December 18 2020 13:10:52SunSirs(John)

Price trend

On December 17, the propylene oxide market rose. According to the data of SunSirs’ bulk list, as of December 17, the average price of propylene oxide companies was 17,333.33 RMB/ton, an increase of 1.96% compared with the previous trading day, an increase of 0.97% compared with the beginning of the month, and a decrease of 2.07% compared to November 17.

Analysis review

Most propylene oxide manufacturers in Shandong have lowered their operating rates, and the overall market supply is temporarily tight. The mid- and downstream maintains rigid demand for purchases. The factories have no under pressure generally, and new orders are up. At present, the mainstream price of propylene oxide market in Shandong is around 17,100-17200 RMB/ton.

Upstream propylene, on December 15, the market price of propylene in Shandong remained stable. According to the monitoring data of SunSirs, propylene prices continued to rise in late November, with an increase of over 12%. From the end of the month to the beginning of the month, the price stabilized again. On the 4th, an overall upward trend began. From the 3rd to the 8th, the price rose by about 450 RMB/ton, an increase of 5.90%. The price remained stable on the 9th. On the 10th, individual companies made up for the increase, and some companies' prices fell slightly. On the 11th, the prices began to fall twice, and the decline continued on weekends. By the 14th, it had fallen by 200-250 RMB/ton. On the 17th, prices were mainly stabilized. The current market transaction is between 7,850 RMB/ton and 8,150 RMB/ton, and the mainstream price is around 7,900 RMB/ton. At present, the inventory pressure of manufacturers is not great, the propylene plant that has been suspended in the north has not been restored yet, and the sales situation is normal.

Downstream propylene glycol, according to the monitoring data of SunSirs, as of December 16, the ex-factory price of domestic industrial grade propylene glycol was 10,633.33 RMB/ton, which was a 15.83% drop from the beginning of the month; Downstream flexible foam polyether, on December 17th, the Shandong region flexible foam polyether market rose, the price of raw material propylene oxide increased, cost pressure increased, manufacturers passively followed up their offers, active willingness to sell goods prevailed, and the downstream mentality was cautious and practical. Single transactions were gradually shrinking, and the wait-and-see sentiment was strong. At present, the mainstream price of ordinary soft foam polyether market in Shandong is around 17,200-17,500 RMB/ton.

Market outlook

The propylene oxide analyst of SunSirs believes that the current operating rate of some production companies is not high, the inventory is low, and the mid-stream and downstream are just in need of follow-up. The cautious wait-and-see mentality is gradually showing. It is expected that in the short term, the propylene oxide market may operate at a high level, and more attention still need to be paid to market news.

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