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SunSirs: Shandong Propylene Market Continued to Rise This Week (November 2-6)

November 09 2020 13:54:11     SunSirs (John)

Price trend

According to data from SunSirs’ bulk list, the domestic propylene (Shandong) market price continued to rise this week, with the weekly low price at 6,756 RMB/ton at the beginning of the week; the weekend price at 6,943 RMB/ton; the weekly high price at 6,946 RMB/ton on Thursday. The weekly increase was 2.77%, and the weekly amplitude was 2.81%.

Analysis review

According to SunSirs price chart, propylene prices remained stable in the first half of October and plunged by more than 10% in the second half. Since November 1st, the price has seen a correction. Since November, it has risen by 200-250 RMB/ton. Prices finally stabilized on the 6th. Some companies have declined slightly. As of the 6th, the market turnover was between 6,750 and 7,250 RMB/ton. The mainstream price was around 6,900 RMB/ton. The sales of manufacturers were relatively satisfactory.

There was little change in crude oil prices on November 5, and the impact on propylene was limited.

The spot price of PP rose early this week, with a weekly increase of 1.43%. The futures market was also relatively ideal at the beginning of the week, but flat in the later period, which had a slight positive impact on propylene.

The acrylic acid market declined slightly this week, with a weekly decline of 0.69%, which had little impact on propylene.

The propylene oxide market fluctuated sharply this week, with a weekly drop of 8.14%, which had a relatively negative impact on propylene.

The price of epichlorohydrin stabilized after rising this week, with a weekly increase of 3.40%, which had a certain positive impact on propylene.

The domestic price of n-butanol stabilized after a small drop this week, with a weekly decline of 0.51%, which had limited impact on propylene.

The 2-EH market rose this week at the weekend, with a weekly increase of 1.14%, which had a slightly positive effect on propylene.

The isopropanol market fluctuated slightly this week, with a weekly increase of 0.83%, which also had a slight positive impact on propylene.

East China phenol also stabilized after a small drop this week, with a weekly decline of 0.67%, which had little effect on propylene.

East China Acetone rose sharply this week on Monday, and rose slightly over the weekend, with a growth rate of 4.80% on the 6th, which had a certain effect on propylene.

Market outlook

The propylene analyst of SunSirs believes that: on the whole, the current propylene manufacturers have less inventory pressure, smooth sales, crude oil prices are average, and there are more favorable conditions in downstream market, which can achieve certain support, and the propylene price appears to be relatively large in the early stage. The decline has risen to a certain extent this week, so it is expected that prices may begin to stabilize in the near future.

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

 

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