SunSirs: Demand Was Insufficient and the ECH Market Was Stable
March 07 2024 14:00:21 SunSirs (John)
Price trend
Since March, the market for ECH has been operating steadily. According to the Commodity Market Analysis System of SunSirs, as of March 6th, the average price quoted by ECH enterprises was 8,150.00 RMB/ton, which was the same as the price on March 1st.
Price influencing factors:
Cost side: According to the commodity market analysis system of SunSirs, the reference price for propylene on March 5th was 6,918.25 RMB/ton, an increase of 0.69% compared to March 1st (6,870.75 RMB/ton). Recently, the price of propylene raw material had fluctuated and increased, while the price of glycerol raw material had remained relatively stable. The cost side still provided support for the ECH market.
Supply and demand side: The production capacity utilization rate of the supply side industry was around 60%, and the demand side performed poorly. Downstream consumers mainly consumed inventory raw materials, and the enthusiasm for inquiry and procurement was not high. Small orders required follow-up at a low price, and actual transactions were limited. The mentality of the industry was under pressure, and the ECH market was quiet and optimistic.
Main downstream epoxy resin: According to the commodity market analysis system of SunSirs, the reference price of epoxy resin on March 5th was 13,300.00 RMB/ton, a decrease of 0.25% compared to March 1st (13,333.33 RMB/ton), which lacked support for the ECH market.
Market outlook
Analysts from SunSirs believe that short-term demand is still dragging the market, and the trading atmosphere in the market is weak. Holders are actively shipping, and it is expected that the market for ECH may be weakly consolidated in the short term. More attention should still be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-22 SunSirs: Under Demand Leadership, the Market for ECH Was Stagnant and Weaker
- 2024-04-15 SunSirs: Supported by Cost and Supply, the Price of ECH Had Risen
- 2024-04-08 SunSirs: The Market for ECH Was Generally Stable, with Transactions Being Small Orders on Demand
- 2024-03-22 SunSirs: Poor Demand, the ECH Market Was Operating Lightly
- 2024-03-18 SunSirs: Under Demand Constraints, the Market for ECH Was Operating Weakly
