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SunSirs: Demand Needed to Be Improved and Propylene Market Was Weak (October 31-November 4)
November 07 2022 09:12:03SunSirs(John)

Price trend

According to the data monitoring of SunSirs, the domestic propylene (Shandong) market fell slightly and rebounded slightly at the weekend. The average price of Shandong propylene market at the beginning of the week was 7,136 RMB/ton, and the average price at the weekend was 7,000 RMB/ton. The weekly decline was 1.91%, and down 8.14% from 30 days ago.

Analysis review

According to the monitoring of SunSirs, as of this Friday, the mainstream quotation of propylene (Shandong) market was 6,950-7,050 RMB/ton. Affected by domestic public health events, Shandong market suffered from blocked enterprise shipments, poor on-site transportation, and low end prices fell below 7,000 RMB/ton. On Friday, the prices of some enterprises rose slightly, the current inventory level of enterprises was fair, the downstream demand was stable, and the Shandong propylene market rebounded.

Upstream: The price of raw materials rose slightly this week except for liquefied gas, which was dominated by favorable factors. The price of international oil prices rose, and it is expected that there will still be a small increase next week.

Downstream: The main downstream polypropylene market consolidation, the market into a stalemate, lack of upward momentum. The price of n-butanol rose strongly this week due to limited transportation, low on-site inventory, and warmer downstream demand. The propylene oxide market was dragged down by the propylene decline, while the demand side was weak, and the price continued to fall this week. On the whole, the downstream products rose and fell, the profitability of some products returned, and the purchasing enthusiasm increased.

Market outlook

According to the propylene analyst from SunSirs, the current propylene price has fallen to a low level, and the enterprise inventory is controllable. It is expected that the Shandong propylene market will rise slightly next week.

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