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SunSirs: Propylene Oxide Prices Fell, and There Was a Strong Wait-and-see Atmosphere
January 22 2021 13:17:10SunSirs(John)

Price trend

The market price of propylene oxide fell on January 21. According to the data from SunSirs’ bulk list, as of January 21, the average price of propylene oxide companies was 17,933.33 RMB/ton, a decrease of 3.58% compared with the previous trading day, and a decrease of 6.27% compared with the beginning of the week. Compared with December 21, 2020, it was up 0.75%.

Analysis review

The inventory pressure of the factory is still manageable, the supply side sells profit, the propylene oxide market declines, and the downstream maintains just-needed purchases. The overall market rhythm is slightly slower and the wait-and-see atmosphere is strong. As of the 21st, the mainstream price of the propylene oxide market in Shandong was at around17,500- 17,700 RMB/ton.

Upstream propylene, on January 20, the price of propylene in the Shandong region remained stable. According to the monitoring data of SunSirs, the price of propylene fell all the way at the end of December, and it began to rise on New Year’s Day. It was raised by about 100 RMB/ton on the 4th. In the later period, it was stable and sometimes rose. The overall trend rose in a stepwise manner. This month, it rose by about 250-300 RMB/ton, and did not moved on the 21st. The market transaction was between 7,450-7,650 RMB/ton, and the mainstream price was about 7,450 RMB/ton. The manufacturers have no pressure on the inventory, and the sales are smooth.

Downstream propylene glycol, according to the monitoring data of SunSirs, as of January 20, the ex-factory price of domestic industrial-grade propylene glycol referred to 13,300 RMB/ton, an increase of 17.35% compared with the beginning of the month; Downstream flexible foam polyether, on January 20, the price of flexible foam polyether in Shandong region was lowered, the price of raw material propylene oxide declined, and cost support weakened. Although the downstream raw material inventory was low, the operation was cautious, and small monodispersion was the main focus.

Market outlook

The propylene oxide analyst of SunSirs believes that the impact of the current cost change is limited, the downstream soft foam polyether has slowed down slightly, the terminal purchase mentality is cautious, and the risk aversion is strong. It is expected that in the short term, the propylene oxide market may be weakened and consolidate, and more attention still needs to be paid to market news guidance.

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