Price trend

According to the monitoring of the Commodity Market Analysis System of SunSirs, the market price of IPA increased this week. The average price of IPA in China on Monday was 6,960 RMB/ton, while on Friday it was 7,050 RMB/ton. The price increased by 1.29% during the week.

Analysis review

The market situation for IPA increased this week. As of the 7th, the market situation was still good, and market demand had improved. In addition, the upstream acetone price increased, providing strong cost support. The traders' mentality was boosted, the market confidence was good, and the market price rose rapidly. As of the 7th, the majority of quotations for IPA in the Shandong region were around 6,800-7,200 RMB/ton; The majority of prices for IPA in the Jiangsu and Zhejiang regions were around 7,300-7,450 RMB/ton.

In terms of raw material acetone, domestic supply was expected to tighten, the demand side heat had increased, and the supply and demand side was good. In addition, due to the recent surge in crude oil, petrochemical product cost support was positive, and the atmosphere of discussions on the market was active. It is expected that there will still be upward expectations in the acetone market next week. On the 6th, Sinopec North China raised 200 RMB per ton to execute 6,400 RMB per ton, and on the 7th, continued to pay attention to news from other factories.

In terms of propylene, the propylene market was on the rise this week. On Monday, the average price of propylene in Shandong was 6,986.6 RMB/ton, while on Friday, the average price was 7,120.6 RMB/ton. During the week, the price increased by 1.92%. The market trading atmosphere was active, with downstream actively restocking. It is expected to rise at the low end on the 8th and maintain stability at the high end.

Market outlook

SunSirs IPA analysts believe that the price of raw acetone had increased, while the price of propylene rose. The support of raw materials was good, and the market rebounded, but buying was still cautious. It is expected that the IPA market will be sorted to be stronger in the short term.

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