Price trend
According to the data of SunSirs, the domestic market price of propylene (Shandong) has been declining recently. At the beginning of the week (December 2), the average price of the company was a weekly high price of 7,062 RMB/ton, and on the weekend (December 7 and 8), the average price of the company was a weekly low price of 6,747 RMB/ton, a weekly decline of 4.47%.
Analysis review
Product: At the beginning of December, due to the influence of the international "black friday" market for crude oil, the price of propylene fell all the way down. It has fallen by about 300 RMB/ton this month. The price on the 7th was still lowered. At present, the market transaction has fallen to about 6,720 to 7,150 RMB/ton, and the mainstream price is 6,720 to 6,750 RMB/ton. At present, the fog in Shandong area has affected the logistics, and the entry of external supplies has been blocked, which has supported the propylene market. The spot price of polymer grade propylene in the United States fell 1.25 cents on Thursday (5th), the lowest level in more than three years, which has a negative impact on propylene.
Industrial chain: On the upstream side, the extension and strengthening of the OPEC meeting's production reduction agreement over the weekend has affected international crude oil, which has a favorable impact on propylene. On the downstream side, downstream procurement is slightly better, which has a positive impact on propylene.
Recently, the spot price of PP still fell slightly, and the weekly decline remained at 0.79%, which had little effect on propylene.
The supply of acrylic acid has decreased this week, and the market price has increased by 1.69% in the week. However, it is mainly necessary to receive goods downstream, so wait and see carefully. It is expected that in the short term, the acrylic acid market may be stabilized, which will have limited positive effects on the propylene market.
Recently, due to the decrease in the supply of propylene oxide market and the low stocks of downstream raw materials, prices have risen, with a weekly increase of 2.28%. However, the actual orders in the polyether market are limited, which will have a certain effect on the upward price of propylene oxide. It is expected that in the short term, the market for propylene oxide may rise steadily and have a certain effect on propylene.
The epichlorohydrin price is still down, and has dropped by 33.51% since November 1. At present, its cost support is weak, downstream epoxy resins are operating weakly, the atmosphere of waits and sees is aggravated, there are no obvious positive factors and rising momentum is insufficient, and it still has a significant suppressing effect on the propylene market.
Recently, the domestic supply of n-butanol has gradually resumed, and the mentality of the industry is weak. The market has not been driven by good news for the time being, the weekly decline is 1.59%, which has a small impact on propylene.
The price of octanol has stabilized across the board this week, with little impact on propylene.
The phenol market rose slightly this week, with a weekly increase of 1.04%. The market in general was slightly favorable for propylene.
The acetone market rebounded slightly after this week's decline, with a weekly decline of 2.68% and a weekly amplitude of 3.30%. It is expected that the market will continue to be weak and have limited impact on propylene.
The price of isopropanol has also fallen this week, with a weekly decline of 3.63%, which has a negative effect on the propylene market.
Market outlook
Analyses of maleic anhydride products from SunSirs believe that although the maleic anhydride plant has no inventory pressure, the current demand is off-season, and the maleic anhydride market is expected to maintain stable operation in December.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.