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SunSirs: This Week, the Domestic IPA Market Price Was Lowered (July 28-August 4)
August 05 2022 10:29:21SunSirs(John)

Price trend

According to the data monitoring of SunSirs, the price of IPA has been reduced this week. The average price of domestic IPA was 6,687.5 RMB/ton last Thursday, and the average price this Thursday was 6,587.5 RMB/ton. The price was lowered by 1.5% during the week.

Analysis review

This week, the domestic IPA market price was lowered. The orders of IPA manufacturers were mainly for export. The downstream demand for domestic IPA was light, the market trading atmosphere was general, the downstream orders were cautious, and the buying enthusiasm was limited. As of the 4th, most of the quotations of IPA in Shandong were around 6,400-6,600 RMB/ton; most of the quotations of IPA in Jiangsu were around 6,400-6,650 RMB/ton. Internationally, on July 26, the US IPA closed down, and the European IPA market closed up.

In terms of raw material acetone, the market price of acetone fell this week. Although some factories were shut down for maintenance, the supply was sufficient. Under the influence of the negative external environment due to the sharp drop in crude oil, there were few inquiries from the terminal, and the stockholders' offers fell under pressure. Shipment intentions increased, and real orders make profits-cutting. As of August 3, the quotation of acetone in East China was about 4,820 RMB/ton; the quotation of acetone in East China was about 4,820 RMB/ton; the quotation of acetone in Shandong was about 5,000 RMB/ton; the quotation of acetone in Yanshan areawas about 5,000 RMB/ton; the quotation of acetone in South China was about 5,050 RMB/ton.

In terms of raw material propylene, the market price of propylene fell this week. The downstream market demand was mainly based on rigid demand, the market was more wait-and-see, and corporate procurement was more cautious. As of the 4th, most of the propylene offers were at 7,250-7,500 RMB/ton. The profitability of the overall propylene industry chain was not good, and the market price was down under pressure. Propylene is purchased when it is used. Under the atmosphere of buying up and not buying down, the amount of propylene purchased was greatly affected.

Market outlook

The IPA analyst of SunSirs believes that the current domestic IPA market demand is relatively light. The raw material acetone and propylene markets have fallen one after another, and the cost support is not good. Market confidence is low and demand is low. It is expected that the IPA market will operate weakly and steadily in the short term.

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

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