Price trend

According to the Commodity Market Analysis System of SunSirs, as of April 20th, the average price quoted by ECH enterprises was 8,825.00 RMB/ton, which was unchanged from Monday's price.

Analysis review

This week, the ECH market was operating stably, enterprises mainly maintained the price stability. Recently, the price of raw material propylene had fluctuated narrowly, while prices of raw material glycerol was mainly stable. The impact of cost was limited, and supply side manufacturers had no inventory pressure, with supporting the market's price mentality. The supply of low-priced goods on the market had decreased, and after downstream restocking, downstream followed up cautiously, mainly on demand. The high-end price negotiations in the market were slightly weak, and the focus of ECH negotiations was mainly on stability.

Upstream propylene, according to the commodity market analysis system of SunSirs, the recent price of propylene in Shandong was narrowly fluctuating. On April 19, the reference price of propylene was 7,380.60 RMB/ton, an increase of 3.39% compared to April 1 (7,138.60 RMB/ton).

Downstream epoxy resin, according to the Commodity Market Analysis System of SunSirs, on April 19, the reference price of epoxy resin was 14,333.33 RMB/ton, a decrease of 1.38% compared to April 1 (14,533.33 RMB/ton).

Market outlook

Analysts from SunSirs’ ECH believe that the current cost impact is not significant, and the supply side has some support for the market. In addition, as the holiday approaches, some downstream companies have a demand for just needed replenishment. It is expected that in the short term, the market for ECH may consolidate and operate at a high level, and more attention still needs to be paid to market news guidance.

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