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SunSirs: Propylene Price in Shandong Rose 3% at the Beginning of March

March 04 2020 14:22:42     SunSirs (John)

Price trend

According to the data of SunSirs, the domestic propylene (Shandong) market price rose sharply in March, and prices rose for three consecutive days. At the beginning of the month, the average price of the enterprise was the lowest price, 6,350 RMB/ton; on March 3, the average price of the enterprise was the highest price, 6,542 RMB/ton, with a three-day increase of 3.02%.

 

Analysis review   

Product: Since March, the price of propylene in Shandong has changed from the previous downward trend. On the 1st, the prices of some enterprises rebounded slightly. On the 2nd, the prices rose slightly across the board. Most companies today rose about 200 RMB/ton. The current market turnover is 6,500 ~ 6,700 / Ton, the mainstream price is around 6,500 RMB/ton.

Industrial chain: On the upstream side, during the Spring Festival, the international crude oil market continued to fall sharply, and then rebounded slightly. Since March, OPEC has increased its output reduction expectations. Crude oil prices are nearing 2018's lows, crude oil prices have risen significantly, and crude oil futures have rapidly risen.

Recently, the PP market has steadily increased, with a three-day increase of 1.68%. The futures market is better, which has a certain positive impact on propylene.

Recently, the acrylic acid market is stable, the price has not changed, and it has little effect on propylene.

Recently, the market of propylene oxide has dropped significantly, and the decrease in the three days reached 4.43%, which is expected to have a certain negative impact on propylene.

Epichlorohydrin prices have fallen sharply recently, with a three-day drop of 6.28%, which has a significant negative impact on propylene.

Recently, the domestic price of n-butanol has been stable across the board, with little impact on propylene.

Recently, the market for octanol has been lowered. The three-day drop was 2.53%, which has some negative effects on propylene.

The price of isopropyl alcohol has fallen slightly in recent days, with a three-day drop of 1.90%, which is negative for the propylene market.

The price of phenol in Shandong has also dropped recently, with a decrease of 2.60% in three days, which has some negative impact on propylene.

The price of Shandong acetone market has fallen slightly recently, with a decline of less than 0.48% in three days, which has limited impact on propylene.

 

Market outlook

The Propylene Analyst of SunSirs believes that, overall, the propylene market has been picking up recently, and the crude oil market has bottomed out due to multiple positive news. And the recent production and inventory of propylene plants are relatively low. Now that crude oil and polypropylene futures have risen, making downstream procurement active. Therefore, although the downstream products have all declined slightly, it is expected that the price of propylene market may still rise in the near future, and the downstream products may increase slightly in the later period.

 

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