Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market slightly declined this week. The average price of the Shandong market at the beginning of the week was 6,683 RMB/ton, and the average price over the weekend was 6,645 RMB/ton, a weekly decrease of 0.56% and a year-on-year decrease of 12.03%.

Analysis review

According to the Commodity Market Analysis System of SunSirs, the propylene market in Shandong rose this week and then slightly declined, with the market initially rising and then declining. Due to the maintenance of some units in the Shandong propylene market during the weekend, supply was tightened, and the quotation was actively pushed up. Subsequently, the downstream showed a resistance towards the high prices after the rise, and the continued upward momentum was insufficient. On the contrary, in order to stimulate shipment, prices was shifted from rising to falling, and the focus of transactions shifted downwards.

Market outlook

Propylene analysts from the SunSirs believe that overall, the cost side of crude oil was mainly weak, and the demand side was still weak. It is expected that the propylene market will remain weak in the short term.

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