SunSirs: The Propylene Market Slightly Increased in February
February 28 2024 14:44:21 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market saw a slight increase in February. At the beginning of February, the market average was 6,843 RMB/ton. On February 27th, the average price was 6,895 RMB/ton, with a monthly increase of 0.77%, a decrease of 7.15% compared to the same period last year.
Analysis review
The propylene market rose first and then fell in February, with an overall slight increase. At the beginning of the month, the price of propylene fell to a low point, and downstream investors entered the market on dips, resulting in an increase in trading volume and a wave of increase in propylene prices. After the holiday, downstream demand fell short of expectations and some inventory was mainly consumed. Upstream goods sales were not smooth, and prices were under pressure and declining. At the end of the month, due to the increase in prices of some downstream products and propylene, profits rebounded, driving downstream active entry into the market and slightly increasing propylene prices.
Cost side: In February, the upstream of propylene mainly experienced a decline, while cost support weakened. Downstream derivatives fluctuated, and the main downstream polypropylene slightly increased, but production was not high, suppressing demand for propylene.
Market outlook
The propylene analyst from SunSirs believes that the propylene market inventory was not high, and companies had a clear willingness to push up prices. However, high prices suppressed demand, increasing resistance to upward movement. It is expected that the propylene market will be stronger in the short term.
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