SunSirs: Domestic IPA Market Price Rose in February

Price trend

According to the data monitoring of SunSirs, the domestic market price of IPA rose this month, and the overall price rose. The average price of IPA was 6,580 RMB/ton on February 1 and 6,860 RMB/ton on February 28. The price rose by 4.26% in the month.

Analysis review

The domestic market price of IPA fell first and then rose this month, with the price rising as a whole. In the first ten days of this month, the market was relatively light, and the price of IPA fell. As the price of raw acetone rose in the middle and late of the month, the cost of IPA was under pressure. The market price followed closely and the price rose. As of the 28th, most of the prices quoted in the IPA market in Shandong were around 6,700-6,900 RMB/ton; Most of the quotations in Jiangsu and Zhejiang IPA market were around 6,800-7,100 RMB/ton.

In terms of raw acetone, the market price of acetone rose this month. The average price of acetone was 5,170 RMB/ton on February 1 and 5,870 RMB/ton on February 28. The price rose by 13.54% during the month. The acetone market continued to operate firmly. The continued tightening of the supply side in the short term strongly supported the market. Overseas market prices were rising and exports were improving. Driven by profits, the domestic downstream units started steadily and the demand for raw materials continued. The domestic resource contract was limited near the end of the month, and the traders had a positive attitude, which kept pushing up the sentiment.

In the aspect of raw material propylene, according to the monitoring data of SunSirs, the domestic propylene (Shandong) market price in February fell in shock, with the market price at 7,530.75/ton at the beginning of February, and the average price on February 28 was 7,426.6/ton, down 1.38%. 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 short term.

Market outlook

The IPA analyst of SunSirs believes that the domestic IPA on-site cost was under pressure this month. The market price of acetone continued to rise, driving the market confidence of IPA, and the market price rose. It is expected that the IPA market will continue to rise slightly in the short term.

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