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SunSirs: Propylene Oxide Prices Continued to Rise, and Manufacturers Had No Pressure (July 5-9)
July 13 2021 14:38:32SunSirs(John)

Price trend

According to data from SunSirs’ bulk list, as of July 12, the average price of propylene oxide enterprises was 16,033.33 RMB/ton, an increase of 2.39% compared with last Monday (July 5), and an increase of 13.71% compared with the price on June 12. It fell by 12.07% in a three-month cycle.

Analysis review

In June, the overall trend of the propylene oxide market fell by 4.90%, and the overall trend of the market first fell and then rose. Entering July, propylene oxide continued its upward trend in late June and rose slowly. At the beginning of last week, there was no pressure on propylene oxide manufacturers, downstream polyether orders increased steadily, and the market price went up. The on-demand downstream followed up steadily, and the market rose without pressure. Market supply was tight, downstream follow-up performance was positive, and the market continued to rise. On the 12th, the mainstream quotation of propylene oxide market in Shandong was around 15,200-15,300 RMB/ton.

The upstream propylene, the Shandong propylene market fluctuated down this week (July 5-9). According to the data from SunSirs's bulk list, the domestic propylene (Shandong) market declined slightly this week. The average market price of propylene at the beginning of the week was 7,804 RMB/ton, and the average price on weekends was 7,796 RMB/ton, a decrease of 0.1%.

Downstream propylene glycol, according to the monitoring data of SunSirs, on July 9, the reference price of propylene glycol was 16,433.33 RMB/ton, which was an increase of 2.28% compared with July 1 (16,066.67 RMB/ton); Downstream flexible foam polyether, the market price of flexible foam polyether in Shandong area rose on July 12, the market price of raw material propylene oxide rose, cost support strengthened, coupled with the short-term tight market spot supply, the market rose. As of the 12th, the mainstream price of ordinary soft foam polyether market in Shandong was around 15,700-16,000 RMB/ton.

Market outlook

The propylene oxide analysts of SunSirs believe that, on the whole, the current cost side has little impact, the market supply is tight, the on-demand downstream follow up actively, and the manufacturers have no pressure. It is expected that in the short term, the propylene oxide market may rise steadily, and more specific trends still need to pay attention to market news guidance.

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