Recently, the propylene oxide market had been stable, showing weak performance. According to the Commodity Market Analysis System of SunSirs, as of November 20th, the average price of propylene oxide enterprises was 9,300.00 RMB/ton, a decrease of 0.27% compared to last Monday (November 13th).
Cost side: According to the analysis system of the commodity market of SunSirs, the domestic propylene (Shandong) market had been fluctuating and declining recently (11.13-11.17). The average price of the Shandong market at the beginning of the week was 7,203 RMB/ton, and the average price over the weekend was 7,198 RMB/ton, with a weekly decrease of 0.07% and a year-on-year decrease of 0.45%. The cost support for the propylene oxide market was limited.
Supply and demand side: Last week, the supply side devices were mainly stable, with some fluctuations. Factory shipments were average, while demand side performance was flat. The market atmosphere was weak on the wait-and-see side. Over the weekend, the downstream moderate increase followed up, and factory shipments improved. On the 20th, the mainstream quotation in the Shandong propylene oxide market was between 9,000-9,050 RMB/ton.
SunSirs’ propylene oxide analysts believe that as of November 20th, the cost support for propylene oxide was still acceptable, and the demand side followed up at a low level as needed. It is expected that in the short term, the propylene oxide market may be wait-and-see and consolidated, and more attention needs to be paid to market news guidance.
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