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SunSirs: The Atmosphere in the Market Is Empty, IPA Prices Have Fallen This Month
December 28 2020 13:55:28SunSirs(John)

Price trend

According to the monitoring of bulk commodity data, the price of IPA has fallen this month. At the beginning of this month, the average domestic IPA price was 10,366.67 RMB/ton. As of the 25th of this month, the average price was 7,966.67 RMB/ton. The price within this month has dropped by 23.15%.

Analysis review

The price of IPA has fallen this month. Internationally, the US IPA closed stable on December 22, and the European IPA market closed basically stable. As of December 25th, the domestic Shandong IPA negotiation interval was about 7,600-8,000 RMB/ton, and the Jiangsu IPA negotiation interval was about 7,900-8,000 RMB/ton. The negotiation interval of Zhejiang IPA was around 7,900 RMB/ton. The raw material acetone continues to decline, and the downward cost of IPA has suppressed the mentality of the downstream market of IPA. The downstream orders are cautious and the buying enthusiasm is limited. Recently, the domestic IPA market has been weakening and the atmosphere in the market is relatively bearish.

In terms of raw material acetone, the focus of acetone market negotiations this month has fallen sharply. According to the monitoring of bulk commodity data, the domestic price of acetone was 9,450 RMB/ton at the beginning of this month. As of the 25th of this month, the average price was 7,550 RMB/ton. Prices fell within the month by 20.11%. As of the 25th, the focus of acetone market negotiations fell sharply after a narrow correction. Although the atmosphere in the field negotiations was general, holders exited the market at ultra-low prices. In addition, the port inventory dropped significantly and the cost was high. The market is expected to operate at a high price. The mainstream quotation in the market on the 25th was 7,550-7,800 RMB/ton.

As for the raw material propylene, as of December 25, the market price of propylene in Shandong has generally declined. The market transaction was between 7,800-8,150 RMB/ton, and the mainstream price was 7,800-7,850 RMB/ton. The current inventory is general, the crude oil price fluctuates mainly, and the next market is slightly deserted. Therefore, it is expected that the propylene price may continue to fluctuate slightly in the near future.

Market outlook

The IPA analyst of SunSirs believes that the raw material acetone has dropped sharply, and the cost side has suppressed the downstream market mentality of IPA; the price reduction of raw material propylene is limited, and the willingness to follow the decline of propylene-based IPA is not strong. Under the tug of war in the market, the decline of IPA is expected to be relatively limited.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

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