SunSirs: Under the Influence of Bearish Factors, the Propylene Market Was Accelerating Its Decline
October 17 2023 08:57:33 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market accelerated its downward trend this week (10.7-10.13). The average price of the Shandong market at the beginning of the week was 7,200 RMB/ton, and the average price on the weekend was 7,036 RMB/ton, with a weekly decrease of 2.26% and a year-on-year decrease of 17.76%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, after the holiday, the domestic propylene market experienced a steady to accelerated decline. Due to the decline in international oil prices and the weakening of downstream polypropylene market, the bearish guidance on the news side was evident during the week, resulting in weaker trading on the market. Downstream buying was cautious and mainly consumed inventory. Upstream inventory consumption was slow, and in order to stimulate sales, the quotation had been lowered.
Market outlook
Propylene analysts from SunSirs believe that there are start-up plans for devices in the future, and supply is expected to increase. The demand side is following up slowly, and under the atmosphere of buying up rather than buying down, it is expected that the propylene market will mainly decline in a narrow range next week.
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- 2024-04-15 SunSirs: The Propylene Market Slightly Increased This Week (April 8-12)
- 2024-04-03 SunSirs: Supply and Demand Gamed, Propylene Price Center Shifted downwards in March
- 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
