SunSirs: The Propylene Market Slightly Increased This Week (April 8-12)
April 15 2024 11:53:45 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market saw a slight increase this week (4.8-4.12). The average price in the Shandong market at the beginning of the week was 6,820 RMB/ton, and the average price over the weekend was 6,892 RMB/ton, with a weekly increase of 1.02% and a year-on-year decrease of 4.33%.
Analysis review
According to the commodity market analysis system of SunSirs, the propylene market saw a slight increase this week. At the beginning of the week, the price of propylene was relatively low, and there was profit potential downstream. Some units resumed operation and actively entered the market, accelerating on-site circulation, and propylene enterprises actively pushed up prices. Over the weekend, the rise in propylene began to slow down, costs increased, downstream procurement efforts decreased, and demand for essential goods was the main focus.
Market outlook
The propylene analyst from SunSirs believes that in the short term, downstream companies will enter the market on dips. This week, the price of propylene had risen to a high level, and downstream companies started purchasing on demand. It is expected that the propylene market will slightly decline next week.
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