Price trend
According to data from SunSirs’ bulk list, the domestic propylene (Shandong) market has rebounded after a steady decline in the past ten days. The price of propylene on May 16 was 8,371 RMB/ton, which was the highest price in ten days. On May 25, the price was 8,119 RMB/ton, a decrease of 3.01% in ten days, and the price of propylene was 8,035 RMB/ton from May 21 to 23, which was the lowest price in ten days, and the amplitude within ten days was 4.02%.
Analysis review
According to the monitoring data of SunSirs, the price of propylene in Shandong continued to rise in the middle and the last ten days of April, and the price fell sharply in the second ten days, and remained stable at the end of the month. During the May Day holiday, the price of propylene continued to be stable in the first two days. From the 3rd to the 7th, the price of propylene continued to rise by about 50 RMB/ton per day. The price remained stable on the 9th. On the 13th, the propylene price stabilized again after a small increase. Starting from the 17th, the price fell by 50 RMB/ton per day, and fell by about 100 RMB/ton on the 19th and 20th. Propylene prices rebounded by 50 RMB/ton per day starting on the 23rd, and the prices generally stabilized on the 25th. The market turnover was between 8,100 and 8,300 RMB/ton, and the mainstream price was around 8,100 RMB/ton. Propylene prices in the U.S. and Asia remained stable on May 24, with limited impact on the propylene market. There is not much inventory in the propylene market, and the maintenance of some devices has not yet been completed.
In recent days, international crude oil market events have continued, and prices have fluctuated up and down. Crude oil prices have risen sharply on May 24, which has a more obvious positive impact on the propylene market.
In the past ten days, the price of PP went down in a stepwise manner and then stabilized, with a decrease of 3.95% in the ten days. The futures market was average, which slightly suppressed propylene.
In the past ten days, the price of acrylic acid has seen a significant dip, with a single-day drop of 5.85% and a 10-day amplitude of 6.42%, which has a certain negative impact on propylene.
In the past ten days, the propylene oxide market first fell, and then stabilized for a few days and then fell again. The ten-day decline has reached 8.79%, which has a relatively obvious negative impact on propylene.
The ECH market fluctuated slightly in the past ten days, with an increase of 0.72% and a amplitude of 1.70%, which has limited impact on propylene.
In the past ten days, the domestic price of n-butanol has steadily declined and then rebounded slightly. The decline has reached 9.28%, and the amplitude is as high as 13.20%, which has a relatively obvious suppressive effect on the propylene market.
In the past ten days, the price of 2-EH has also rebounded steadily after a steady decline. The ten-day decline has reached 10.58%, and the ten-day amplitude has reached 13.17%. It also has a relatively obvious suppressive effect on propylene.
The price of IPA has fallen continuously in the past ten days, with a decrease of 15.53%, which has a large negative impact on propylene.
The market price of phenol in East China has stabilized in the past ten days and then declined, with a decrease of 2.44%, which has a slight negative impact on propylene.
In the past ten days, the quotations of acetone manufacturers in the East China market have dropped sharply, with a drop of 16.89%, it also has suppressive effect on propylene.
In the past ten days, the market price of acrylonitrile fluctuated up slightly, with a rise of 1.27% and a amplitude of 1.41%, which has little positive impact on propylene.
Market outlook
The propylene analyst of SunSirs believes that: on the whole, there are not many domestic inventories, some devices are overhauled, and companies have suspended quotations. The crude oil market has risen recently, and some downstream devices have resumed work slightly. The operating rate has rebounded slightly. The market is more bearish than good. Propylene is expected to continue to rise along with the crude oil market.
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