SunSirs: The Propylene Market Fluctuated and Fell This Week (July 17-21)
July 24 2023 14:35:20 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of Business Society, the domestic propylene (Shandong) market was initially suppressed and then rose this week, with a slight decline overall. The average price of propylene in the Shandong market at the beginning of the week was 6,608 yuan/ton, while the average price of propylene on the weekend was 6,550 yuan/ton, with a weekly decrease of 0.87% and a year-on-year decrease of 11.65%.
Analysis review
According to the Commodity Market Analysis System of the Business Society, the propylene market in Shandong Province experienced a volatile trend this week due to the impact of news and demand. At the beginning of the week, the shutdown of downstream devices in the region suppressed the confidence of the industry, causing a weak decline in propylene prices. Subsequently, the prices of crude oil and PP increased, and the prices of PP and propylene increased. Downstream procurement was actively carried out, pushing the price of propylene to stop the decline and increased.
Market outlook
Propylene analysts from Business Society believe that overall, international oil prices were uncertain, but downstream demand support was obvious. It is expected that the propylene market will be stronger in the short term.
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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
