Price trend
According to the Commodity Market Analysis System of SunSirs, as of February 28th, the average price quoted by ECH enterprises was 8,150.00 RMB/ton, an increase of 0.31% compared to the price on February 1st.
Analysis review
The market situation of ECH remained stable with minor fluctuations in February. The pre holiday cost support was average, the industry's capacity utilization rate was low, and the supply side inventory operated without pressure. After the downstream stage replenishment, the enthusiasm for inquiry and procurement decreased. With the approaching holiday and the impact of logistics transportation, the market atmosphere was calm and wait-and-see, and the focus of negotiations on ECH was mainly stable. After the holiday, the factory mainly delivered contracts and orders, and the inventory pressure accumulated during the holiday gradually eased. Some enterprises had export orders to support their price boosting mentality, but downstream demand recovery was slow. The attitude of inquiry and procurement was cautious, and small orders with low demand were mainly selected. New orders in the market were averagely sold.
Upstream propylene, according to the commodity market analysis system of SunSirs, the reference price of propylene on February 27th was 6,895.75 RMB/ton, an increase of 0.77% compared to February 1st (6,843.25 RMB/ton), providing general support for the ECH market.
According to the commodity market analysis system of SunSirs, the reference price for downstream epoxy resin on February 27th was 13,333.33 RMB/ton, an increase of 1.52% compared to February 1st (13,133.33 RMB/ton), which provides limited support for the ECH market.
Market outlook
According to analysts from SunSirs, as of February 28th, poor demand had dominated the market, putting pressure on holders to sell. It is expected that the ECH market may operate weakly in the short term, and more attention should be paid to market news guidance.
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