SunSirs: The Propylene Market Slightly Increased This Week (November 20-24)
November 27 2023 11:30:52 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market saw a slight increase this week (11.20-11.24). The average price in the Shandong market at the beginning of the week was 7,045 RMB/ton, and the average price over the weekend was 7074 RMB/ton, with a weekly increase of 0.43% and a year-on-year decrease of 3.16%.
Analysis review
According to the commodity market analysis system of SunSirs, there was a slight rebound in the propylene market this week. At the beginning of the week, crude oil prices rose, coupled with a significant drop in propylene prices over the weekend, causing prices to drop to low levels. Downstream bargains entered the market, and with news support, upstream prices were actively pushed up. Considering downstream acceptance, this round of price adjustments adopted a small and multiple approaches.
Market outlook
Propylene analysts from SunSirs believe that in the short term, there will be limited changes in the supply of propylene and insufficient support from the demand side. It is expected that the propylene market will consolidate and operate in a narrow range next week.
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- 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
