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SunSirs: Led by Bad News, Propylene Market Rose First and Then Fell in October
November 01 2022 14:18:04SunSirs(John)

Price trend

According to the monitoring data of SunSirs, the domestic propylene (Shandong) market rose first and then fell in October, with a decline greater than the increase. The market was at 7,620 RMB/ton in early October, and the average price at the end of the month was 7,136 RMB/ton, with a monthly decline of 6.35%, and down 10.24% compared with the same period last year.

Analysis review

The performance of domestic propylene market in October was not satisfactory. At the beginning of October, following the rising trend in September, the price rose slightly. From the middle to late October, the market turned from rising to falling, and the decline gradually increased, with the maximum daily decline reaching 100 RMB/ton. The center of gravity of raw material cost moved downward, the contradiction between supply and demand in the market intensified, and the poor transportation in some mainstream regions was the main factor affecting the October propylene market. Multiple factors overlapped, and the October propylene market was not as expected. By the end of the month, the mainstream quotation of propylene in Shandong was 7,050-7,100 RMB/ton.

The industrial chain of propylene industry was mainly down. On the cost side, crude oil shocked down, naphtha and liquefied gas prices declined to varying degrees, and propane rose slightly. However, the impact on propylene was limited, and the main cost side was weak. Demand side: The price of downstream derivatives rose and fell in this month, mainly down. The demand side was weak, especially the weakness of mainstream downstream polypropylene, which further dragged down the propylene market.

Market outlook

According to propylene analysts from SunSirs, the market supply is expected to further increase in November, and the demand side needs to be improved. It is expected that the propylene market will continue to decline in a weak way in the near future, with a range of 50 RMB/ton.

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