SunSirs: This week, the Propylene Market Rose First and Then Fell (November 6-10)
November 13 2023 10:53:12 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the overall domestic propylene (Shandong) market rose this week (11.6-11.10). The average price of the Shandong market at the beginning of the week was 7,090 RMB/ton, and the average price on the weekend was 7,270 RMB/ton, with a weekly increase of 2.54% and a year-on-year decrease of 0.82%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, the propylene market rose first and then declined this week. At the beginning of the week, due to the improvement of downstream polypropylene market, the price difference between propylene and it widened, driving downstream active entry into the market. At the same time, some upstream devices were shut down, resulting in a decrease in supply, and the propylene market was actively pushing up. In the second half of the week, the price of propylene had risen to a high level, and there was a resistance mentality in the downstream. The wait-and-see atmosphere was strong, while the upstream was mainly to stimulate sales and reduce prices to eliminate inventory.
Market outlook
Propylene analysts from SunSirs believe that in the future, there are plans to start the installation in the region, and the 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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