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SunSirs: The Price of Propylene Steadily Rose in Shandong with a Weekly Increase of Over 4%

June 23 2020 11:01:17     SunSirs (John)

Price trend

According to the monitoring data of SunSirs, the domestic propylene (Shandong) market price has risen steadily this week. The initial price of the week is the weekly low price of 6,605 RMB/ton; and on Friday that was the weekly high price of 6,876 RMB/ton, the weekly increase was 4.10%.

 

Analysis review   

After a week-long uptrend in early June, the Shandong propylene market experienced a significant price correction in mid-term. According to the price of the trading company, the cumulative decline was 350 RMB/ton in 7 days last week. However, the price started to stop falling and rebounded on the weekend. By June 22, the price had risen continuously by 350~450 RMB/ton. The market turnover was between 6,850~7,150 RMB/ton. The mainstream price was around 6,850 RMB/ton. There is no inventory pressure for propylene manufacturers, but due to the continuous increase, the sales situation is average.

At the beginning of June, the international crude oil price increased significantly, and fell slightly in the later period, but the overall price was still mainly adjusted upwards, which had a slight effect on propylene.

Recently, the PP futures market was relatively light. This week, the PP spot price rose slightly, with a weekly increase of 0.86%, which has little effect on propylene.

This week, the acrylic acid market fell slightly, with a weekly drop of 0.81%, which has little effect on propylene.

This week, the propylene oxide market stabilized after rising, with a weekly increase of 2.04%, which has a certain positive effect on propylene.

This week, epichlorohydrin prices fell steadily, with a weekly decline of 2.48%, which has a negative impact on propylene.

This week, domestic n-butanolhttp://www.sunsirs.com/uk/news-1156-1.html prices increased significantly this weekend, with a weekly increase of 1.83%, which has a small effect on propylene.

This week, the 2-EH market rose and stabilized, with a weekly increase of 2.14%, which had a slightly positive impact on propylene.

Affected by the epidemic situation, the IPA market, which is one of the raw materials of foreign disinfectants, fell sharply this week, with a weekly decline of 4.60%, which has a slightly negative effect on propylene.

The phenol market in East China fell slightly over the weekend, with a weekly decline of 1.92%, which has a certain suppressive effect on propylene.

The acetone market in East China stabilized after the decline, with a weekly decline of 2.16%. It also has a certain suppressive effect on propylene.

 

Market outlook

The propylene analysts of SunSirs believe that: on the whole, the international crude oil market has slightly increased, and the propylene manufacturers have no inventory backlog. However, the long-term upswing caused the sales situation to be desolate compared with the previous period, while the downstream market trend weakened, with some decline and stability, and some downstreams still had an upward trend, but the general upward trend did not exceed propylene, so it is expected that the price of propylene may start to decline in the near future.

 

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