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SunSirs: Propylene Market Was Consolidating (September 19-23)
September 26 2022 08:53:40SunSirs(John)

Price trend

According to the data monitoring of SunSirs, the domestic propylene (Shandong) market was consolidating this week. The average price of the Shandong propylene market at the beginning of the week was 7,434 RMB/ton, and the average price at the weekend was 7,430 RMB/ton, a weekly decrease of 0.05%, an increase of 8.31% compared with the 30 days ago.

Analysis review

According to the monitoring of SunSirs, as of this Friday, the mainstream price of propylene in (Shandong) market was 7,400-7,450 RMB/ton, the market price was stable with small changes and the overall market was stable. This week, the market trading improved, the downstream inquiries were active, and the enthusiasm for buying goods increased. The supply side was still loose, fortunately, downstream demand continued to improve, supporting propylene prices. In terms of demand, the profitability of downstream products increased, the operating rate was increased, and purchases were increased, which was beneficial to the propylene market. At the same time, the export data in July and August showed that the import volume of propylene decreased, the import resources decreased, and the utilization rate of domestic propylene production capacity increased, which played a certain role in supporting the propylene market.

Upstream: The raw material market fell mainly this week, but the cost price was still at a high level, the cost support was weak, and the demand support became stronger.

Downstream: Downstream products did not fluctuate significantly, but the increase was more than the decrease. It can be seen that the market of downstream products gradually recovered, and the demand was stable and increased.

Market outlook

The propylene analyst of SunSirs believes that after a wave of rebound and stabilization of the market, boosted by the chemical industry's "golden September and silver October", the propylene market in the future is expected to push up slightly.

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