SunSirs: The Propylene Market Fluctuated and Rose This Week (August 7-11)
August 14 2023 11:17:58 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market fluctuated and rebounded this week. The average price of the Shandong market at the beginning of the week was 6,733 RMB/ton, and the average price on the weekend was 6,763 RMB/ton, with a weekly increase of 0.45% and a year-on-year decrease of 7.11%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, the propylene market in Shandong Province experienced a fluctuating upward trend this week due to the impact of news and demand. At the beginning of the week, the rebound in crude oil and PE prices led to a slight increase in the propylene market. Subsequently, the price difference between PE and propylene narrowed, and downstream purchasing willingness weakened. The propylene market began to weaken. As the weekend approached, Shandong enterprises underwent PDH device maintenance, resulting in a decrease in on-site supply, boosting market information and driving up the price of propylene.
Market outlook
Propylene analysts from SunSirs believe that overall, the cost support was relatively stable, and there was little possibility of a significant drop in oil prices. At the same time, downstream demand had rebounded, and it is expected that the propylene market will operate 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
