Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the market price of IPA had fallen this week. At the beginning of the week, the average price of IPA in China was 9,180 RMB/ton, while the average price over the weekend was 9,060 RMB/ton. During the week, the price decreased by 1.31%.
Analysis review
The market price of IPA fell this week. After the National Day holiday, the market situation gradually weakened and the overall trading sentiment was poor. The upstream acetone market saw a decline in the acetone market, with weak cost support. Downstream procurement was cautious, with on-demand orders being the main focus. Most businesses maintained a wait-and-see attitude, with fewer inquiries and more wait-and-see, resulting in slow shipments. As of October 13th, the majority of quotations for IPA in the Shandong region were around 6,200-6,400 RMB/ton; The majority of prices for IPA in the Jiangsu and Zhejiang regions were around 6,600-6,800 RMB/ton.
In terms of raw material acetone, the acetone market price fluctuated and declined this week. At the beginning of the week, the average price of acetone was 7,720 RMB/ton, while on Friday, the average price was 7,425 RMB/ton. The price was reduced by 3.82%. The acetone market was operating to be weaker this week, with upstream going down. Traders were under pressure and eager to ship, while downstream market sentiment was sluggish, with few actual orders traded. From Monday to Thursday, the market continued to decline, with a slight rebound over the weekend and the overall decline being the main trend.
In terms of propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market price fell this week, with an average price of 7,200.75 RMB/ton at the beginning of the week and 7,038.25 RMB/ton at the end of the week. The price was lowered by 2.26%. The propylene market had poor trading this week. Downstream procurement enthusiasm decreased, and the overall market was relatively light. It is expected that the market situation will be weaker in the short term.
Market outlook
IPA analysts from SunSirs believe that upstream acetone prices fluctuated and declined, while propylene market prices had fallen, resulting in weak cost support overall. Downstream markets were not actively buying goods, and market transactions were more cautious and wait-and-see. It is expected that the IPA market will operate to be weaker in the short term.
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