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SunSirs: Shandong Propylene Market Rose Slowly This Week (March 8-12)
March 15 2021 13:53:32SunSirs(John)

Price trend

According to data from SunSirs’ bulk list, the domestic propylene (Shandong) market was slowly rising this week. At the beginning of the week, the price was low at 8,423 RMB/ton, and it was the high price at 8,517 RMB/ton at the weekend, with a weekly increase of 1.11%.

Analysis review

According to the monitoring data of SunSirs, affected by the upstream and downstream effects, the price of propylene rose repeatedly in the second half of February and was at a multi-year high. The price of propylene remained stable at the end of February and early March. On the 4th, the price of propylene began to decline, and on the 8th, the price generally rebounded. The price rose by 150-250 RMB/ton in two days. After that, the price generally stabilized. On the 12th, the price rose again by about 50 RMB/ton, and the market transaction was 8,450-8,650 RMB/ton. Between RMB/ton, the mainstream price was about 8,500 RMB/ton. The impact of low temperature in the United States still exists, and production capacity is generally restored; the impact of propylene in Japan has decreased, and production capacity has recovered slightly.

It is reported that OPEC+ may extend production cuts, and the UAV attack on the port of Saudi oil town on the evening of the 7th did not cause significant damage to the facilities. Therefore, the crude oil market's upward trend faded. Crude oil prices rose again on March 11, and the cost support for propylene increased.

This week, PP prices rebounded and stabilized after falling, with a weekly decline of 0.35% and a weekly amplitude of 1.06%. The futures market was average, and the impact on C was limited.

The price of acrylic acid rose this week, with a weekly increase of 1.12%, which had a slightly positive effect on propylene.

The propylene oxide market continued to rise this week, with a weekly increase of 3.28%, which had a certain effect on propylene.

This week, the ECH market remained stable after rising at the beginning of the week, with a weekly increase of 1.42%, which had a slight boost to propylene.

This week, the domestic price of n-butanol went up and then fell back. There was no increase or decrease. The weekly amplitude was 2.23%, which did not have much impact on the propylene market.

This week, the 2-EH also went up and then fell back. The weekly gain was 1.52% and the weekly amplitude was 3.25%, which had little effect on propylene.

The price of isopropanol went down this week at the weekend, with a weekly drop of 2.08%, which had a certain negative impact on propylene.

The East China phenol market slowly moved up this week, with a weekly increase of 1.14%, which had a slightly positive impact on propylene.

The quotations of manufacturers of the acetone market in East China were stable this week, which had little impact on propylene.

Market outlook

The propylene analyst of SunSirs believes that: on the whole, international production has recovered slightly, domestic inventories are general, crude oil prices have stopped falling and rebounded, downstream operating rates are acceptable, and the effect of boosting and suppressing is not large. Moreover, the price of propylene is still at a high level, and it is expected that the market outlook may rise with the crude oil market.

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

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