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SunSirs: Trading Was Deserted, and N-propanol Continued Its Weak Decline (February 1-5)

February 08 2021 14:03:17     SunSirs (John)

According to the price monitoring data of SunSirs, as of February 7, the average reference price of domestically produced n-propanol containing packaging in mainstream areas was around 10,700 RMB/ton, which was the same as the price on February 1, 2021 (reference price 10,866 RMB/ton). In comparison, the average price was lowered by 166 RMB/ton, a decrease of 1.53%.      

This week, the domestic n-propanol market continued to be weak and fell slightly  

In the first week of February, the domestic market for n-propanol declined slightly. The downturn in the external market for raw material ethylene has weakened the support for the cost of n-propanol. In addition to the continuous suspension of logistics, downstream factories will also be suspended. Under the weakening of demand, the spot price in the market fell slightly, with a decrease of around 200 RMB/ton. After the price adjustment, the current inventory pressure on the market is relatively small. As of February 7, the ex-factory quotation of n-propanol without packaging in Shandong was around 9,600-10,000 RMB/ton, which was the same as the beginning of this month, and the price including packaging was around 10,500-11,000 RMB/ton, which was the same as the beginning of the month. The ex-factory price of n-propanol without packaging in Nanjing was referenced at 9,500-9,900 RMB/ton, down 100-200 RMB/ton from the beginning of this month.

In terms of raw materials, in February, the external market for ethylene generally declined. The Asian ethylene market price rose first and then fell. As of February 5, the ethylene reference price was 969 RMB/ton compared with February 1 (1,017.75 RMB/ton), a 4.79% drop.

Before the Spring Festival, the n-propanol market will maintaine a weak consolidation

Before the Spring Festival, the domestic n-propanol market maintains a weak consolidation, and there are not many new orders. Therefore, the n-propanol data engineer of SunSirs believes that there will be no big waves in the domestic n-propanol market before the Spring Festival, and downstream factories will continue to close down. After the Spring Festival, more attention should be paid to the price trend of raw material cost and market demand.

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