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SunSirs: Propylene Oxide Prices Fell in Late July
July 28 2021 14:24:33SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of July 27, the average price of propylene oxide enterprises was 16,800 RMB/ton, a decrease of 9.07% compared with the price on July 21 (the reference price of propylene oxide was 18,475 RMB/ton), which was up 16.94% compare to June 27, and it was down 10.95% in a three-month cycle.

Analysis review

The propylene oxide market rose strongly in mid-July and early July, with an increase of 23.99%. Since late July, the propylene oxide market has weakened. Recently, factories have been slowly accumulating inventory, market supply has tended to be loose, and the sentiment of lowering prices in the downstream is obvious, and the focus of market negotiations has gradually decreased On the 27th, the mainstream price of propylene oxide market in Shandong was around 16,300-16,500 RMB/ton.

Upstream propylene, according to data from SunSirs’s bulk list, the domestic propylene (Shandong) market rose slightly recently (7.21-7.27). The average market price on 21st was 7,768.55 RMB/ton, and the average price on 27th was 7,824.91 RMB/ton, an increase of 0.73%.

Downstream propylene glycol, according to the monitoring data of SunSirs, as of July 27, the ex-factory price of domestic industrial grade propylene glycol was referenced to 16,533.33 RMB/ton, which was 4.98% lower than that on July 21 (the reference price of propylene glycol was 17,400 RMB/ton); Downstream soft foam polyether, on July 27, the soft foam polyether market in Shandong followed the decline of raw material propylene oxide, and the downstream purchases were cautious. The mainstream price of ordinary soft foam polyether in Shandong was around 16,500-168,00 RMB/ton.

Market outlook

The propylene oxide analyst of SunSirs believes that, on the whole, the current cost side has little impact, the supply side is gradually loosening, the downward market sentiment is sluggish, the demand side temporarily drags down the market, and the market has a strong wait and see sentiment. It is expected that in the short term, the propylene oxide market may be operating in a weaker position, and more specific trends still need to pay attention to downstream follow-up.

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