SunSirs: The Propylene Oxide Market Slightly Declined in November (November 1-2

Price trend

According to the Commodity Market Analysis System of SunSirs, as of November 28th, the average price of propylene oxide for enterprises was 9,300.00 RMB/ton, a decrease of 1.06% compared to the price on November 1st.

Analysis review

The propylene oxide market slightly declined in November. In the first half of the month, the trend of raw material propylene market was relatively strong, with strong support from the propylene oxide market in terms of cost. At the beginning of the month, some inventory on the supply side slightly accumulated, and prices slightly loosened. Downstream observers followed suit with moderate demand, and the demand side showed average performance. In mid month, the domestic propylene (Shandong) market fluctuated and fell, with limited cost support, individual fluctuations in supply side equipment, and flat performance on the demand side. The demand side mainly followed suit at a low price, and factory shipments were average. The market remained stable with weak performance. In late November, facing the increased support from the propylene oxide market, the supply side operated without pressure, and downstream continued to follow up on purchases. The market atmosphere was strong, and on the 28th, the mainstream quotation for Shandong propylene oxide market was between 9,200-9,300 RMB/ton.

According to the commodity market analysis system of SunSirs, the reference price for upstream propylene on November 28th was 7,083.25 RMB/ton, an increase of 0.46% compared to November 1st (7,050.75 RMB/ton).

Market outlook

The propylene oxide analyst from SunSirs believes that as of November 28th, there was some support on the cost side, and there was no pressure on the supply side. Downstream observation and follow-up were still possible, and it is expected that the propylene oxide market will operate steadily in the short term. More attention should be paid to market news guidance.

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