SunSirs--China Commodity Data Group

Member ID: password: Join Now!
Commodity News

SunSirs: In October, Shandong Propylene Remained Stable in the First Half of the Month and Plunged More Than 10% in the Second Half of the Month

November 02 2020 13:41:24     SunSirs (John)

Price trend

According to data from SunSirs’ bulk list, the domestic propylene (Shandong) market price remained stable in the first half of this month and plummeted in the second half. At the beginning of the month, it was 7,503 RMB/ton, and at the end of the month was the monthly low price, 6,736 RMB/ton, with a monthly decrease of 10.21%; the monthly high price appeared on October 8 and 9 at 7,530 RMB/ton, with a monthly amplitude of 10.54%.

Analysis review

According to SunSirs price chart, since October 1st, the price of propylene has generally remained stable, and the prices of some companies have risen and fallen slightly. This week, they have generally stabilized. On Friday, only a few companies have seen a small price drop, and most companies have continued to be stable. However, it fell by about 200 RMB/ton from the 17th to the 19th, and went up and down slightly from the 20th to the 23rd. It began to show a significant downward trend on October 24, and it had fallen by 650-700 RMB/ton till the 31st, and the market turnover was 6,650-7,200 RMB/ton, the mainstream price was 6,650-6,700 RMB/ton, and the price has reached the price in late July. Manufacturers were under greater sales pressure.

On the upstream side, crude oil prices have continued to decline recently, and the decline has been significant, which has a relatively obvious suppressive effect on propylene.

PP remained stable after a slight increase this month, with a monthly increase of 1.66%. The futures market was also relatively stable, and its impact on propylene was limited.

The price of acrylic acid remained stable after a sharp increase in the middle of this month, and fell slightly at the end of the month. The monthly increase was 8.28% and the monthly amplitude was 9.66%. This has a small positive effect on propylene, but it has been roughly digested.

The market for propylene oxide remained stable in the first half of the month, and declined significantly at the end of the month, with a monthly decline of 5.67% and a monthly amplitude of 6.50%, which has a certain negative impact on propylene.

The epichlorohydrin market fluctuated in the first ten days of this month, and it declined significantly at the end of the month, with a monthly decline of 4.71% and a monthly amplitude of 4.99%, which has a certain negative impact on propylene.

The domestic price of isopropanol increased in the first half of this month, and fell in the second half of the month. The monthly decline was 0.42%, and the monthly amplitude was 7.42%, which had a slight negative impact on propylene.

The domestic price of n-butanol remained stable in the first ten days of this month, rose significantly in the middle ten days, and stabilized again in the last ten days, with a monthly increase of 3.95% and a monthly amplitude of 4.74%, which had little impact on the propylene market.

The 2-EH market rose in the middle of this month, and fell significantly in the second half of the month, with a monthly decline of 2.02% and a monthly amplitude of 3.76%, which has a slight negative impact on propylene.

The East China phenol market stabilized after rising this month, and declined at the end of the month, with a monthly decline of 5.07% and a monthly amplitude of 8.53%, which had little impact on propylene.

The East China acetone market remained stable in the first ten days, rose significantly in the middle ten days, and stabilized again in the last ten days, with a monthly increase of 1.50% and a monthly amplitude of 12.36%, which has limited impact on propylene.

Market outlook

The propylene analyst of SunSirs believes that: on the whole, current propylene manufacturers are under increasing inventory pressure, crude oil prices are falling, downstream sources are sufficient, and external sources are entering. The market is slightly favorable and the price has fallen sharply in the short term. Propylene prices are expected to be affected by detailed inventories in the near future, maybe stabilize after a slight decline.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

Energy
Chemical
Rubber & plastics
Textile
Non-ferrous metals
Steel
Building materials
Agricultural & sideline products