Price trend

According to the data monitoring of SunSirs, the domestic propylene (Shandong) market price fell further this week. The average price of propylene in the Shandong market at the beginning of the week was 7,348 RMB/ton, and the average price at the weekend was 7,200 RMB/ton, with a weekly decrease of 2.29% and a decrease of 3.83% compared with the 30 days ago.

Analysis review

According to the price chart of SunSirs, as of this weekend, the mainstream quotation of propylene (Shandong) market was 7,100-7,150 RMB/ton. Due to weak raw material cost support and poor downstream demand, the propylene market was down under pressure. The company was not able to sell goods smoothly, and the downstream purchased mainly small orders, and the price was severely depressed. In order to sell the goods, the price was lowered one after another. The market had a strong wait-and-see atmosphere, and the propylene market had loose supply. Under the atmosphere of buying up and not buying down, the price of propylene was easy to fall and difficult to rise.

Upstream: Crude oil prices fell one after another this week, further suppressing industry information. The prices of liquefied gas, methanol, and propane all fell to varying degrees, and propylene cost support was weak.

Downstream: Downstream products were still in a downward channel, rising less and falling more, resulting in lower profits for downstream products, low start-up, and limited ability to purchase raw materials. It can be seen that the demand for propylene had not improved, and the contradiction between supply and demand had intensified.

Market outlook

The propylene analyst of SunSirs believes that: the current propylene price has dropped to a low level, and some propylene production routes have been in a state of loss for a long time. According to the past market, it is expected that the propylene market may rebound slightly next week.

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