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SunSirs: Propylene Market Fell in a Narrow Range (August 15-19)
August 22 2022 08:52:19SunSirs(John)

Price trend

According to the data monitoring of SunSirs, the domestic propylene (Shandong) market price fell in a narrow range this week. The average price of the Shandong market at the beginning of the week was 7,174 RMB/ton, and the average price at the weekend was 7,030 RMB/ton, a weekly increase of 2.01%, a decrease of 4.9% from 30 days ago.

Analysis review

According to the monitoring of SunSirs, as of this weekend, the mainstream quotation of propylene (Shandong) market was 7,000-7,050 RMB/ton, and some low-end quotations fell below 7,000 RMB/ton. The market demand was not as good as expected, and the pressure of propylene enterprises to sell goods was not reduced. The situation of oversupply in the market was difficult to change. The downstream just needed to purchase, and most of them were small orders. In terms of supply, various maintenance equipment resumed operation one after another, the contradiction between supply and demand intensified, downstream demand was slow to follow up, and the propylene market continued to weaken.

Upstream: The overall raw material market rose slightly this week, but the support for propylene was average. The current propylene market was mainly dominated by supply and demand.

Downstream: Most of the downstream were derivatives, and the performance was not optimistic. The overall demand faces limited support for propylene. The pressure on propylene production enterprises to ship remained unabated, the main downstream polypropylene futures continued to decline, the spot digestion was not good, and the operating load of some units might be reduced.

Market outlook

The propylene analyst of SunSirs believes that: the demand is limited, and the price of propylene is expected to fall further in the case of an increase in supply in the future.

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

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