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SunSirs: Propylene Oxide Prices Rose Slightly in September
September 30 2021 14:03:17SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of September 29, the average price of propylene oxide from enterprises was 17,333.33 RMB/ton, an increase of 8.11% compared with the price on September 1 (the reference price of propylene oxide was 16,033.33 RMB/ton). The price rose 17.12% in a three-month cycle.

Analysis review

The propylene oxide market rose slightly in September. In early September, as the inventory dropped to a low level, the factory offered a strong market offer, and the downstream new orders were average, downstream followed up passively and the price rose slightly. In mid-September, under the influence of the "dual control" policy, manufacturers stopped or reduced the load in varying degrees, the overall market supply had shrunk, the transaction had improved, and the price had risen again. In late September, some installations were operating at low load, and the market supply was still tight. The tight balance between supply and demand drove the market upward. As the end of the month, the production restriction policy affected propylene oxide and the downstream start-up load. The market was relatively stable, the overall trading atmosphere was average, and the market was running steadily.

Upstream propylene, according to data from SunSirs’ bulk list, as of September 28, the reference price of propylene was 7,965.67 RMB/ton, which was a 3.6% increase compared with the price on September 1 (7,688.55 RMB/ton).

Downstream propylene glycol, according to the monitoring data of SunSirs, as of September 28, the reference price of propylene glycol was 21,100.00 RMB/ton, an increase of 23.63% compared with the price on September 1 (17,066.67 RMB/ton); Downstream soft foam polyether, the mainstream price of soft foam polyether in Shandong on September 29 was around 17,300-17,700 RMB/ton.

Market outlook

The propylene oxide analysts of SunSirs believe that, on the whole, the current cost impact is limited, the downstream polyether new orders are generally traded, and the overall market atmosphere is sluggish. It is expected that in the short term, the propylene oxide market may be mainly wait-and-see. More attention needs to be paid to changes in supply and demand.

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