SunSirs: This Week, the Propylene Market in Shandong Fell Weakly (March 20-24)
March 27 2023 11:38:26 SunSirs (John)
Price trend
According to data monitoring by SunSirs, the domestic propylene (Shandong) market was in a weak downward trend this week, with an average price of 7,176 RMB/ton at the beginning of the week and 6,972 RMB/ton at the end of the week, a weekly decrease of 2.84% and a year-on-year decrease of 17.08%.
Analysis review
According to data monitoring by SunSirs, the propylene market in Shandong was weak and downward this week, with prices in northern regions falling below 7,000 RMB/ton. During the week, both crude oil and propane prices fell to varying degrees, with significant cost side negative constraints. At the same time, there was a strong wait-and-see atmosphere on the market, upstream shipments were sluggish, inventory accumulated, and the focus of market transactions continuously shifted downward. As of this Friday, the mainstream quotation in the Shandong propylene market was 6,900-7,000 RMB/ton.
This week, the propylene industry chain was weak overall, and the prices of some products at the cost end fell to a low level, there may be a slight rebound in the future. The operating rate of some downstream product units of propylene on the demand side was not high, and the procurement of propylene was weakened.
Market outlook
Propylene analysts from SunSirs believe that as of the 24th, the price of propylene had fallen to a low level, and some downstream devices hadplans to restart, which may stimulate the propylene market. It is expected that propylene will be more likely to stop falling and rebound slightly in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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- 2024-03-29 SunSirs: Sales Was Poor and Propylene Prices Broadly Declined
- 2024-03-12 SunSirs: Supply Side Was Favourable, and Propylene Prices Rose (March 4-8)
- 2024-02-28 SunSirs: The Propylene Market Slightly Increased in February
