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SunSirs: Domestic n-propanol market fluctuated this week

June 17 2022 08:40:18     

According to the price monitoring data of SunSirs, as of June 16, 2022, the average reference price of domestic n-propanol was 8483 RMB/ton, which was reduced by 17 RMB/ton, or 0.20%, compared with June 12 (the average reference price of n-propanol was 8500 RMB/ton).

It can be seen from the data of the business club that this week, the domestic n-propanol market fluctuated in a small range, and the overall trend was weak. On the 13th of the week, the market price of n-propanol in Shandong fell slightly. Some dealers reduced the ex warehouse price of n-propanol by about 100-200 RMB/ton according to their own inventory and shipment rhythm. In the middle of the week, the n-propanol market was weak, the trading atmosphere was general, and the news was calm. On the 16th, the quotations of some dealers were slightly increased by 100 RMB/ton, and the overall market range in the market was adjusted, which was stable and small.

As of the 16th, the market price of n-propanol in Shandong was around 7900-8500 RMB/ton, the difference between high and low prices in the market was widened, and the barrel price was around 9300-9700 RMB/ton. In Nanjing, during the overhaul of n-propanol unit, the order is expected to be placed in late June, and the price is stable compared with the previous quotation. Local dealers still have reservations about the price. The price is not easy to monitor, which may lead to differences in the specific negotiation situation. Each region also has differences. The actual order negotiation is the main thing, and we will wait and see the change of raw material price and shipment in the future. At present, the trading atmosphere on the site is mild, the downstream purchases on demand, and the overall news is calm.

In terms of upstream ethylene, on June 15, according to the Asian ethylene market, CFR Northeast Asia quoted us $1006-1016 / ton, CFR Southeast Asia quoted us $1146-1156 / ton, and the international crude oil futures fell. The US Federal Reserve raised interest rates by 75 basis points more than expected. The market was disturbed by macro bad news, and the expectation of demand setback put pressure on oil prices. On June 15, the settlement price of the main contract of WTI crude oil futures in the United States was US $115.31/barrel, down US $3.62 or 3.04%; The settlement price of the main contract of Brent crude oil futures was US $118.51/barrel, down US $2.66 or 2.20%. Affected by the decline of upstream crude oil prices, the ethylene market in the later stage may fall mainly.

Forecast of future market trend of n-propanol

At present, the supply and demand side of the n-propanol market is normal, and the downstream demand continues to be mainly for replenishment. According to the analysts of the SunSirs, in the short term, the domestic n-propanol market will be mainly consolidated and operated in a stable manner, and more attention should be paid to the specific changes in the supply and demand side.

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