SunSirs: Supply Side Was Favourable, and Propylene Prices Rose (March 4-8)
March 12 2024 10:46:09 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market rose strongly this week (3.4-3.8). The average price in the Shandong market at the beginning of the week was 6863 ,, and the average price over the weekend was 7054 RMB/ton, with a weekly increase of 2.79% and a year-on-year decrease of 4.75%.
Analysis review
According to the commodity market analysis system of SunSirs, the propylene market had shown a significant increase this week. In the early part of the week, due to the shutdown of some upstream devices in the region, supply had tightened, prices had risen, and downstream buyers had entered the market. In the later part of the week, prices rose to a high level, and the atmosphere of downstream entry into the market weakened. In addition, some units released propylene, which eased the tight supply situation and led to a slight decline in propylene prices.
Market outlook
SunSirs' propylene analyst believes that as of March 8th, the rise in propylene prices had led to a narrowing of downstream profits, which suppressed propylene demand. It is expected that the focus of propylene prices will shift downward in the short term.
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- 2024-04-15 SunSirs: The Propylene Market Slightly Increased This Week (April 8-12)
- 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
- 2024-02-28 SunSirs: The Propylene Market Slightly Increased in February
- 2024-02-27 SunSirs: The Propylene Market Slightly Declined This Week (February 18-23)
