Price trend

According to data monitoring by the Big SunSirs, the market for IPA fell in a volatile manner this week. Last Thursday, the average price of isopropyl alcohol in China was 6,880 RMB/ton, while this Thursday's average price was 6,760 RMB/ton. The price was reduced by 1.74% during the week.

Analysis review

The market for IPA fell this week. As of the 23rd, the market situation was general, and market demand was weak. In addition, the upstream acetone price fell, resulting in weak cost support. Traders and downstream manufacturers were more cautious in their buying mood, mainly on wait-and-see, purchased in needed, and purchased when they needed. As of the 23rd, most quotations for IPA in the Shandong region were around 6,500-6,900 RMB/ton; Most quotations for IPA in the Jiangsu and Zhejiang regions were around 6,800-7,000 RMB/ton.

Regarding raw material acetone, the acetone market fell this week. Last Thursday, the average price of acetone in Shandong was 6,230 RMB/ton, while this Thursday's average price was 6,070 RMB/ton. During the week, the price was reduced by 2.57%.The continued downturn in the market was mainly due to poor procurement by downstream terminal factories and the scarcity of actual orders. As of the 23rd, the source of imported goods was limited and the supply was not loose, but demand was difficult to improve. Traders were under great pressure to ship goods, and their quotations declined in a narrow range. In addition, Sinopec's centralized downward adjustment has resulted in a significant lack of confidence in the future market, and market transactions are mostly followed up by small orders.

In terms of propylene, the propylene market fell this week. Last Thursday, the average price of propylene in Shandong was 7,386.6 RMB/ton, while this Friday's average price was 7,042.6 RMB/ton. During the week, the price was reduced by 4.66%. As of the 23rd, propylene inventory was under pressure, and the overall market atmosphere was poor. Downstream was more wait-and-see, buying was cautious, and they purchased just in needed.

Market outlook

An IPA analyst from SunSirs believes that the price of raw acetone had been lowered, while the price of propylene had fallen. Support of raw materials was weak, market conditions were poor, downstream demand was weak, and buying remained cautious. It is expected that the IPA market will be weak and consolidated in the short term.

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