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SunSirs: Due to Insufficient Demand Support, the Propylene Market Was Weakly Down (November 15-19)
November 22 2021 13:58:12SunSirs(John)

Price trend

According to data from SunSirs’ bulk list, the domestic propylene (Shandong) market price continued to fall this week. At the beginning of the week, the propylene market price was 7,897 yuan/ton, and the weekend average price was 7,600 yuan/ton, a decrease of 3.75%.

Analysis review

According to the price chart of SunSirs, the price of propylene (Shandong) continued to decline this week. As of Friday, the price of propylene in the Shandong market was 7,600-7,700 yuan/ton, and the corporate quotations were basically the same. Companies mainly completed old customer orders, new orders were short, and downstream buying was insufficient, and the purchases were mainly by rigid demand downstream. The prices of upstream raw materials declined as a whole, and under the constraints of cost and demand, companies continuously lowered their prices for smooth delivery.

Upstream: As of the close of November 18: WTI rose 0.65 dollars to 79.01 dollars per barrel in December, an increase of 0.8%; Brent rose 0.96 dollars to 81.24 dollars per barrel in January, an increase of 1.2%. SC2201 fell 11.7 yuan/barrel to 500.1 yuan/barrel. This week, the raw material market was mixed, and the decline was dominated. Among them, crude oil prices fell 2.96% weekly, propane fell 0.33%, liquefied gas rose 1.69%, and methanol fell 9.59% due to weak raw materials and poor demand.

Downstream: Downstream products were still dominated by declines. Among them, propylene oxide, ECH and other products were adjusted down significantly due to lower raw material prices and insufficient demand support. The main downstream polypropylene maintained its downward trend, with a weekly decline of 2.11%. The downstream product market is generally weak, and it is difficult to change in the near future.

Market outlook

The propylene analyst of SunSirs believes that the overall market for propylene is dominated by negative factors, and the market outlook is accompanied by the impact of low-priced sources due to the eagerness of enterprises. It is expected that the price of propylene will continue to fluctuate and fall.

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

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