Price trend

According to the monitoring of the Commodity Market Analysis System of SunSirs, the market price of IPA had increased this week. At the beginning of the week, the average price of IPA in China was 7,460 RMB/ton, while the average price over the weekend was 7,700 RMB/ton. During the week, the price increased by 3.22%.

Analysis review

The market price of IPA had increased this week. As of August 4th, the market situation was still fair. The upstream acetone market price declined from a high level, and propylene prices had slightly decreased, resulting in weaker cost support. Downstream procurement tended to be cautious, taking orders mainly on-demand, and many businesses maintaining a wait-and-see attitude. Overall, the market was relatively stagnant. As of August 4th, the majority of quotations for IPA in the Shandong region were around 7,000-7,400 RMB/ton; The majority of prices for IPA in the Jiangsu and Zhejiang regions were around 7,600-8,000 RMB/ton.

In terms of raw acetone, the upstream acetone market price fell this week. At the beginning of the week, the average price of acetone was 6,987.5 RMB/ton, while at the weekend, the average price was 6,850.5 RMB/ton. The price was reduced by 1.97%. This week, downstream demand for acetone was average, and the market atmosphere was relatively weak, resulting in a decline in prices.

In terms of propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market fell first and then rose this week. The average price of the Shandong market at the beginning of the week was 6,738.25 RMB/ton, and the average price on Sunday was 6,645.75 RMB/ton. The price was reduced by 1.37%. The trading atmosphere in the market this week was relatively light, and downstream procurement enthusiasm was average. The atmosphere improved over the weekend. It is expected that the propylene market will shake in the short term.

Market outlook

SunSirs’ IPA analysts believe that the raw material acetone price declined, while the propylene market first fell and then rose, with weak cost support overall. However, manufacturers intended to raise prices, and the market was more wait-and-see. It is expected that the IPA market may experience a slight decline in the short term.

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