SunSirs: This Week's Domestic IPA Market Price Was Down (August 5-12)

Price trend

According to the data monitoring of SunSirs, the price of IPA decreased slightly this week. The average price of domestic IPA was 6,587.5 RMB/ton on last Friday, and the average price on this Friday was 6,537.5 RMB/ton. The price was lowered by 0.76% during the week.

Analysis review

This week, the domestic IPA market price was lowered. The downstream demand for domestic IPA was not good, the market trading atmosphere was light, the downstream orders were cautious, the rigid demand was the main, the buying enthusiasm was limited, and the shipping intention increased the real order to make profits-cutting. As of the 12th, most of the quotations of IPA in Shandong were around 6,300-6,600 RMB/ton; most of the quotations of IPA in Jiangsu were around 6,400-6,600 RMB/ton. Internationally, on August 9, the US IPA closed down, and the European IPA market closed steady and rose.

In terms of raw material acetone, the market price of acetone fell this week. According to the data monitoring of SunSirs, the average price of acetone on last Friday was 4,920 RMB/ton, and the average price on this Friday was 4,690 RMB/ton, and the price was lowered during the week by 4.67%.The acetone market was in a long-short game, and the acetone price center of gravity was down.

In terms of raw material propylene, the market price of propylene fell first and then rose this week. According to the data monitoring of SunSirs, the average price of propylene on last Friday was 7,180.6 RMB/ton, and the average price on this Friday was 7,274.6 RMB/ton. The price increased by 1.31% during the week. Crude oil rose slightly, and the downstream transaction atmosphere was improving. It is expected that the market will run steadily and strongly in the short term.

Market outlook

The IPA analyst of SunSirs believes that the current domestic IPA market demand is light. The price of raw material acetone falls, and the cost support is weak. The downstream of IPA receive orders just on demand, and the demand lacks support. It is expected that the IPA market will run weakly and steadily in the short term.

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