SunSirs: The ECH Market Was Weaker This Week (March 20-24)
March 27 2023 09:21:19 SunSirs (John)
Price trend
According to data from SunSirs, as of March 24th, the average price of ECH quoted by ECH enterprises was 8,800.00 RMB/ton, a decrease of 0.56% compared to Monday's price.
Analysis review
This week, the ECH market was weaker and the market atmosphere was light. Recently, the price of raw material propylene had fallen, the raw material glycerol market had been operating on a weak basis, and cost support had weakened. Some ECH units were shut down or operated at reduced load, but the demand side had not significantly improved. Downstream, they mainly consumed inventory raw materials, and lacked follow-up on raw material procurement. The market mentality was under pressure, and the focus of ECH negotiations was weaker.
According to monitoring data from SunSirs, the market price of propylene in Shandong Province had recently declined. On March 23, the reference price of propylene was 7,042.60 RMB/ton, a decrease of 6.38% compared to March 1 (7,522.60 RMB/ton).
The reference price of downstream epoxy resin on March 23 was 14,733.33 RMB/ton, a decrease of 2.43% compared to March 1 (15,100.00 RMB/ton).
Market outlook
According to the ECH analyst from SunSirs, as of the 24th, the cost support was weak and the supply side shrank, but the demand side performance was still poor. Downstream inquiries and purchases were cautious, and the market mentality was insufficient. It is expected that the market for ECH may be weakly consolidated in the short term, and more attention still needs to be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-22 SunSirs: Under Demand Leadership, the Market for ECH Was Stagnant and Weaker
- 2024-04-15 SunSirs: Supported by Cost and Supply, the Price of ECH Had Risen
- 2024-04-08 SunSirs: The Market for ECH Was Generally Stable, with Transactions Being Small Orders on Demand
- 2024-03-22 SunSirs: Poor Demand, the ECH Market Was Operating Lightly
- 2024-03-18 SunSirs: Under Demand Constraints, the Market for ECH Was Operating Weakly
