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SunSirs: N-Propanol Fell in February as a Whole. Can the Market Pick Up in March?

March 03 2021 13:06:04     SunSirs (John)

Price trend

According to the price monitoring data of SunSirs, as of February 28, the average reference price of domestically produced n-propanol containing packaging in mainstream areas was around 10,733 RMB/ton , compared with the price in early February (the reference price was 10,866 RMB/ton  on February 1), the average price was lowered by 133 RMB/ton , a drop of 1.23%.

In early February, both supply and demand were weak, and the price of n-propanol fell slightly

Since the beginning of February, due to the decline in the external market of raw material ethylene, the weakening of the cost support for n-propanol, the suspension of pre-holiday logistics, and the reduction of downstream demand, the domestic industrial-grade n-propanol market has fallen weakly. Spot suppliers lowered the ex-factory price of n-propanol by 200-300 RMB/ton , and then the market was weak and stable until the Spring Festival. As of February 15, the ex-factory quotations of n-propanol bulk water in Shandong were referenced at 9,600-10,000 RMB/ton , and the price including packaging was around 10,500-11,000 RMB/ton . The ex-factory price of n-propanol bulk water in Nanjing was 9,500-9,800 RMB/ton .

Supply and demand gradually recovered after the holiday, the market for n-propanol steadily rose slightly

During the holiday period, the domestic industrial-grade n-propanol market maintained stable operation. On the first day of construction, the quotations of n-propanol markets in Nanjing and Shandong were basically the same as before the holiday. Towards the end of February, market supply was normal and downstream demand gradually opened. Suppliers in the secondary market of n-propanol in Shandong slightly raised the ex-factory price of n-propanol by 100-200 RMB/ton . As of February 28, the domestic ex-factory price of industrial-grade n-propanol was 10,733 RMB/ton . Compared with the price on February 11, the average price was increased by 33 RMB/ton . Compared with the price on February 1, the average price was reduced by 133 RMB/ton , a drop of 1.23%.

In terms of raw materials, after the Spring Festival, the external market of ethylene showed an overall upward trend. As of the 26th, the ethylene market in Asia, CFR Northeast Asia quoted at 1,047-1,055 US dollars/ton, and CFR Southeast Asia quoted at 997-1,005 US dollars/ton. In the U.S. ethylene market, FD U.S. Gulf was quoted at 1,156-1,168 US dollars/ton. In the European ethylene market, FD Northwest Europe offered 1,196-1,210 US dollars/ton, and CIF Northwest Europe offered 1,159-1,170 US dollars/ton. On the 28th, the reference price of ethylene was 1,092.50 US dollars/ton. Compared with February 18 (993.25 US dollars/ton), the price increased by 97 US dollars/ton, an increase of 9.99%.

Work starts normally, demand is restored, and the market outlook for n-propanol may rise steadily

At present, the production of n-propanol in Nanjing Rongxin is under normal operation, and downstream demand has gradually returned to normal. The supply and demand are relatively stable. The continued increase in raw materials after the holiday and the follow-up of demand have a positive impact on the market outlook for n-propanol. Therefore, the n-propanol data analyst of SunSirs predicts that the market for n-propanol will continue to pick up, and the overall market will be stable with a rise .

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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