SunSirs: Demand Was Weak, the Shandong Propylene Market Declined Broadly
May 06 2023 09:26:23 SunSirs (John)
Price trend
After the holiday, the propylene market in Shandong experienced a significant decline, with mainstream quotes dropping to 6,850-6,900 RMB/ton on the 5th. A decrease of 100 RMB/ton compared to the previous day.
Analysis review
Due to the low start of downstream equipment and limited procurement volume during the holiday, the export pressure of propylene enterprises increased, and they made profit-cutting to sell goods. In addition, due to the recent weakness of crude oil and the downward trend of polypropylene market, the price of propylene had fallen significantly under the pressure of multiple bearish factors.
Market outlook
The downstream wait-and-see atmosphere was strong, and under the atmosphere of buying up rather than buying down, the Shandong propylene market is mainly weak.
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