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SunSirs: Epoxychloropropane Market Declined This Week (March 9-13)

March 17 2020 11:21:36     SunSirs (John)

Price trend

The epichlorohydrin commodity index on March 15 was 69.68, which was the same as the previous day, and was 47.89% lower than the highest point of the cycle at 133.71 points (2019-10-29), which was a 48.73% increase from the lowest point of September 07, 2016 at 46.85 points. (Note: Period refers to 2011-09-01 to now)

 

Analysis review   

Product: According to the data of SunSirs, the epichlorohydrin market fell this week. Epichlorohydrin manufacturers' stocks were under pressure, and downstream demand has not improved significantly. The contradiction between supply and demand was outstanding, and the market trading atmosphere was light. As of the 15th, the average price of epichlorohydrin companies was 9,866.67 RMB/ton, down 6.03% compared with the beginning of the week, and down 30.35% compared to January 1. On the 15th, the prevailing quotation in the domestic epichlorohydrin market was around 8,900 ~ 10,000 RMB/ton.

Industrial chain: This week (3.9-3.13), the market price of upstream propylene in Shandong area dropped by 6.60%. On the 13th, the market turnover was 6,100-6,650 RMB/ton, and the mainstream price was 6,100-6,150 RMB/ton. A few days ago, affected by the OPEC meeting, international crude oil continued to plummet. On the 10th, affected by the economic stimulus plan and US producers' cuts in spending, U.S. oil jumped 8%. On the 11th, international crude oil declined slightly, and on the 12th, crude oil fell again sharply. Because the previous production and inventory of propylene were low, the decline in the early period was not significant, but the price of crude oil fluctuated greatly. It is expected that the price of propylene may be affected by crude oil in the later period and it will show a significant downward trend. On the 13th, the prices of downstream epoxy resins and dual raw materials fell, cost support was insufficient, terminal demand was light, and buying follow-up was limited.

 

Market outlook

Epichlorohydrin analysts of SunSirs believe that the recent price of raw material propylene is weak, and the downstream epoxy resin market is lightly traded. It is expected that in the short term, the epichlorohydrin market may mainly consolidate and more attention should be paid to cost and demand side news guidelines..

 

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