SunSirs: This Week, the Propylene Market First Fell and Then Rose (December 18-22)
December 25 2023 14:10:58 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market fell first and then rose this week (12.18-12.22). The average price in the Shandong market at the beginning of the week was 6,895 RMB/ton, and the average price over the weekend was 6,926 RMB/ton, with a weekly increase of 0.47% and a year-on-year decrease of 6.66%.
Analysis review
According to the commodity market analysis system of SunSirs, the propylene market was initially subdued and then rebounded this week. At the beginning of the week, due to snowfall, transportation in the region was hindered, and upstream goods were not smooth, resulting in a slight decrease in prices. Subsequently, crude oil prices continued to rise, boosting market confidence. Coupled with the shutdown of facilities in Shandong region, the supply side was boosted, and the price of propylene shifted from a decline to an increase, firmly rising.
Market outlook
SunSirs’ Propylene Analyst believes that in the short term, there is an increasing trend in propylene supply, and the demand side is relatively stable. Close attention should be paid to changes in the news side, and it is expected that the propylene market may decline in the future.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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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
