SunSirs: The Market Performance of ECH Was Weak (May 9-15)
May 17 2023 13:46:41 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 15th, the average price quoted by ECH enterprises was 8,875.00 RMB/ton, a decrease of 0.56% compared to last Tuesday (May 9th).
Analysis review
The recent market situation of ECH was weak. Recently, the price of raw material propylene slightly decreased, while the price of glycerol temporarily stabilized, the cost support was slightly weak. The production capacity utilization rate of the supply side industry slightly decreased compared to the previous period, but most of the downstream was mainly based on consuming inventory raw materials, and buying at low prices with moderate replenishment. The market trading atmosphere was light, and the focus of ECH negotiations was narrowly downward.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market slightly declined this week (5.8-5.12). The average price of the Shandong market at the beginning of the week was 6,918 RMB/ton, and the average price at the weekend was 6,880 RMB/ton, with a weekly decrease of 0.55% and a year-on-year decrease of 19.53%.
Downstream epoxy resin, according to the Commodity Market Analysis System of SunSirs, the reference price of epoxy resin on May 15th was 14,500.00 RMB/ton, a decrease of 0.91% compared to May 1st (14,633.33 RMB/ton).
Market outlook
Analysts from SunSirs believe that as of the 15th, the cost side support was average, while the supply side support was acceptable. However, the demand side follow-up was limited, and the market transaction atmosphere was flat. It is expected that the market for ECH may be weak and narrowly 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
