Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the IPA market fluctuated and fell in March. On March 1st, the average price of IPA in China was 8,480 RMB/ton, while on March 29th, the average price was 8,210 RMB/ton. The price dropped by 3.18% during the month.

Analysis review

The IPA market fluctuated and fell in March. In the first ten days, the market price of raw material acetone first rose and then fell, with average cost support. The mentality of the IPA market was unstable, with relatively light trading on the market, and market prices were adjusting downwards. In the middle of the month, the raw material acetone market fluctuated and operated in a range, with average cost support. The market situation of IPA was lukewarm, and the market price fluctuated within the range of acetone. In late March, the overall market for IPA did not show much improvement, and downstream enterprises were more cautious in trading, with a downward market focus. As of March 28th, the majority of IPA market quotations in Shandong region were around 7,900-8,200 RMB/ton; The majority of quotes for IPA in the Jiangsu and Zhejiang regions were based on market reference prices of around 8,300-8,500 RMB/ton.

In terms of raw material acetone, the domestic acetone market fluctuated and fell in March. On March 1st, the average price of domestic acetone was 7,315 RMB/ton, and on March 29th, the average price was 7,272.50 RMB/ton, a decrease of 0.56%. Overall, the domestic acetone market fluctuated slightly in March, with limited purchasing power from major terminals. SunSirs predicts that there will be fewer favorable factors in the future, and the demand side's flat purchasing sentiment is average. The actual trading volume is limited, and there is still support in the cost side. Factory prices are not volatile, and it is necessary to pay attention to the weekly port inventory situation in the future.

In terms of propylene, according to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market price fell in March. At the beginning of March, the market average was 6,870.75 RMB/ton. On March 29th, the average price was 6,790.6 RMB/ton, with a monthly decline of 1.89%. The propylene analyst from SunSirs believes that the price of propylene had fallen to a low point, and the enthusiasm for downstream entry into the market had increased. The on-site shipment situation had improved, and it is expected that the propylene market will be volatile and stronger in the short term.

Market outlook

SunSirs’ IPA analyst believes that in March, raw material acetone experienced a slight drop in volatility, while propylene prices fell, resulting in average cost support. On site demand was weak, and the market was lukewarm. It is expected that in the short term, IPA will be more cautious and the market price will mainly fluctuate in a range.

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