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SunSirs: In the Past Eight Days, the Shandong Propylene Market Rose Steadily and Then Stabilized (May 1-8)

May 10 2021 14:09:24     SunSirs (John)

Price trend

The domestic propylene (Shandong) market rose steadily in the past eight days and then stabilized, according to the data from SunSirs’ block list. On May 1st and 2nd, the price was 8,055 RMB/ton, which was the lowest prices in the past eight days, while on May 8th, the price was 8,329 RMB/ton, with an increase of 3.41%.

Analysis review

According to the monitoring data of SunSirs, the propylene price in Shandong Province rose continuously in the middle and the first ten days of April, fell sharply in the last ten days, and remained stable at the end of the month. During the May Day period, the price of propylene continued to be stable in the first two days. From the 3rd to the 7th, it went up about 50 RMB/ton per day, and began to hold steady on the 8th. The market transaction was between 8,300 RMB/ton and 8,450 RMB/ton, and the mainstream price was about 8,300 RMB/ton. On May 7, the price of propylene in the United States dropped sharply, and the price of propylene in Asia remained stable, which may have a negative impact on the propylene market. At present, the propylene market has no pressure on inventory, some units are still under maintenance, and the supply is slightly tight.

In recent days, international crude oil market events continued, and prices fluctuated up and down. Crude oil prices declined slightly on May 7, which weakened the impact on the propylene market.

In the past eight days, PP prices rose continuously, with an increase of 1.73%. The futures market was average, and the positive impact on propylene was limited.

The price of acrylic acid stabilized after rising in the past eight days. The increase was 1.63%, which had little effect on the profitability of propylene.

In recent eight days, the market of propylene oxide rose slightly, with an increase of 2.12%, which had a small pulling effect on propylene.

ECH market fell continuously in the past eight days, with a decline of 6.17%, which had a negative impact on propylene.

In the past eight days, the domestic n-butanol price rose sharply, with an increase of 19.74%, which had a significant effect on the propylene market.

In the past eight days, the price of 2-EH rose significantly and then stabilized, with an increase of 11.27%, which had a certain positive impact on propylene.

IPA prices declined slightly in the past eight days, with a decline of 0.72% in the past eight days, which had little impact on propylene.

In the past eight days, the price of phenol in East China rose steadily and then stabilized, with an increase of 2.69%, which had a slight positive impact on propylene.

In the past eight days, the quotation of acetone manufacturers in East China market fell, with a decline of 2.73%, which had a slight negative impact on propylene.

In the past eight days, the price of vinyl cyanide market fluctuated and declined, with a decline of 1.67% and an amplitude of 2.55%, which had little negative impact on propylene.

Market outlook

The propylene analyst of SunSirs believes that: on the whole, there are not many domestic inventories, some installations are overhauled, the crude oil market has declined slightly, the downstream operating rate is acceptable, the market is more positive than negative, and the polypropylene futures are average. Propylene market is expected to remain stable.

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

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