Price trend

According to the data monitoring of SunSirs, the domestic propylene (Shandong) market was in a weak decline this week. The average price of propylene in the Shandong market was 7,670 RMB/ton at the beginning of the week and 7,490 RMB/ton at the end of the week, with a weekly decrease of 2.35% and a year-on-year decrease of 7.24%.

Analysis review

According to the monitoring of the data from SunSirs, the propylene market in Shandong fell weakly this week. The low oil price in the week depressed the market confidence, and the wait-and-see atmosphere for downstream procurement was strong. At the same time, the overhaul enterprises resumed their operation one after another, and the supply had an increasing trend. In order to stabilize the delivery of propylene, the prices of propylene enterprises were reduced. As of this Friday, the mainstream price of propylene in Shandong market was 7,400-7,500 RMB/ton.

Upstream: crude oil prices rebounded after falling, and as of the close on February 23, WTI rose 1.44 US dollars/barrel to 75.39 US dollars/barrel in April 2023, up 2%; In April 2023, Brent rose 1.61 US dollars/barrel to 82.21 US dollars/barrel, up 2%.

Downstream: Downstream products were mainly rising, and most of them were rising due to rising costs. Among them, the polypropylene market was volatile at high levels, and the downstream acceptance was general.

Market outlook

The propylene analyst of SunSirs believes that the demand support was general and the market wait-and-see atmosphere was strong. It is expected that the propylene market will operate in a weak and volatile manner in the near future.

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