SunSirs: Propylene Oxide Market Prices Fell (November 10-17)

Price trend

According to the monitoring data of SunSirs, as of November 17, the average enterprises price of propylene oxide was 15,066.67 RMB/ton, which was 8.32% lower than the price on last Wednesday (November 10) and a decrease of 14.72% compared with the price on October 17.

Analysis review

This week (11.10-11.17), the market price of propylene oxide fell. Recently, the price of raw material propylene has been weak, the cost support has been weakened, the supply side has been relatively sufficient, and the demand side has been weak. Under the mentality of buying up and not buying down, the enthusiasm of downstream inquiries and purchases was not high, mainly cautious and wait-and-see, and the market price of propylene oxide was under pressure to decline. On the 17th, the mainstream market price of propylene oxide in Shandong was around 14,400-14,600 RMB/ton.

In the upstream propylene, the propylene market in Shandong was adjusted downwards on the 16th by 100 RMB/ton and the average price of propylene in Shandong was 7,792 RMB/ton, a decrease of 1.33% from the price on the 15th. The downstream buying gas was insufficient, especially polypropylene, the main demand for propylene, whose market was weak and difficult to change. In order to smoothly sell the goods, propylene companies lowered their prices. The propylene market has no obvious positives for the time being, and it is expected to run weakly in the near future.

Downstream propylene glycol, on November 16, the reference price of propylene glycol was 18,600.00 RMB/ton, a decrease of 22.18% compared with the price on November 1 (23,900.00 RMB/ton); downstream soft foam polyether, the mainstream market price of the soft foam polyether in Shandong on November 16 was around 15,400-15,600 RMB/ton.

Market outlook

The propylene oxide analyst of SunSirs believes that the current cost support is insufficient, and the supply and demand support is weak. It is expected that in the short term, the propylene oxide market may be weakened, and more attention needs to be paid to downstream demand.

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