Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the market price of IPA increased in January. On January 1st, the average price of IPA in China was 7,890 RMB/ton, and on January 30th, it was 8,170 RMB/ton. The price increased by 3.55% during the month.

Analysis review

The market price of IPA increased in January. In the first ten days, the market price of acetone rose rapidly, confidence in IPA increased, the market improved, and inquiries from enterprises increased. The manufacturer's quotation was relatively firm and upward. In mid month, market trading slowed down, and the IPA market temporarily stabilized and consolidated. In late January, the IPA market remained strong and upward, downstream restocked at the end of the year on demand. As of 30th, the majority of IPA market quotations in Shandong region were around 7,900-8,100 RMB/ton; The majority of IPA prices in the Jiangsu and Zhejiang regions were around 8,300-8,500 RMB/ton.

In terms of raw material acetone, in January, the domestic acetone market price first rose and then fell, and overall, the price increased. On January 1st, the average price of acetone was 7,062.5 RMB/ton, and on January 30th, the average price was 7,225 RMB/ton. The price increased by 2.3% during the month. As of 30th, the intention of terminal factories to restock had slowed down, and the trading atmosphere in the market had slightly declined with the market downturn. Transactions were limited, and it is expected that acetone will maintain a stronger adjustment state.

In terms of propylene, the market average in early January was 6,868 RMB/ton, with an average price of 6,930.75 RMB/ton on January 30th, a monthly increase of 0.91%. In January, the upstream of propylene showed mixed ups and downs, with average cost support, while downstream derivatives showed mixed ups and downs. The main downstream of polypropylene slightly increased, but production was not high, suppressing demand for propylene. The propylene analyst from the SunSirs believes that the wait-and-see atmosphere in the propylene market was becoming stronger, and downstream entry into the market was cautious. It is expected that the price center in the short term will be unstable and there is a possibility of a downward trend.

Market outlook

SunSirs’ IPA analyst believes that in January, raw materials acetone and propylene rose one after another, providing strong cost support. As the end of the year approaching, downstream and traders were restocking more at the end of the year, and the market trading situation was good. It is expected that the IPA market will temporarily stabilize and consolidate in the short term by the end of the year.

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