Price trend
According to the monitoring of the commodity market analysis system of SunSirs, the IPA market fluctuated and fell in December. On December 1st, the average price of IPA in China was 6,710 RMB/ton, and on December 30th, the average price was 6,660 RMB/ton. The price increased by 0.75% during the month.
Analysis review
The IPA market fluctuated and fell in December. In early December, the demand in the terminal market was poor, and the IPA market was weak downward. The overall downstream purchasing intention was not strong, and actual orders were cautious. In the mid to early stages, there was an increase in the intention of cargo holders to ship, resulting in a narrow downward adjustment of offers. However, in the later stages, the market fundamentals remained stable, leading to an increase in reluctance to sell and an upward shift in the focus of offers. The market trading atmosphere in the late month was average, with a strong wait-and-see sentiment downstream. The market fluctuated slightly downwards, and the trend showed a stalemate, with cautious actual orders. As of December 30th, most of the IPA market prices in Shandong were around 6,750-6,800 RMB/ton; The majority of IPA market prices in Northeast China were around 6,500-6,600 RMB/ton, while in Jiangsu and Zhejiang regions, the majority of IPA market prices were around 6,700-6,750 RMB/ton. In South China, the majority of IPA market prices were around 7,050-7,150 RMB/ton.
In terms of import and export, according to customs statistics, the export volume of IPA in China in November 2024 was 1,857,0342 kilograms, with an export value of 17,411,577 US dollars. From January to November 2024, the cumulative export volume of IPA in China was 178,214,960 kilograms, with a cumulative amount of 188,478,018 US dollars. According to customs statistics, the import volume of IPA in China in November 2024 was 4,513,802 kilograms, with an import amount of 6,798,070 US dollars. From January to November 2024, the cumulative import volume of IPA in China was 48,182,677 kilograms, with a cumulative amount of 72,594,796 US dollars.
In terms of raw material acetone, the domestic acetone market rose in December. On December 1st, the average price of acetone in China was 5,882.5 RMB/ton, and on December 30th, the average price was 6,012.5 RMB/ton. The price increased by 2.21% during the month. The circulation of spot resources in the acetone market was tightening, which had boosted the mentality of traders and pushed up their offers, improving the trading atmosphere.
In terms of propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market fluctuated within a certain range in December. At the beginning of December, the market average was 6,745.75 RMB/ton, with an average price of 6,840.75 RMB/ton on December 30th, a monthly decline of 0.07%. In the short term, the inventory of propylene enterprises was still acceptable, overall controllable, and downstream purchases were made according to demand. It is expected that propylene will continue to fluctuate to be stronger in the short term.
Equipment situation: Kailing Chemical's 100,000 tons/year acetic acid isopropyl ester process unit had been shut down. The 50,000 tons/year acetone hydrogenation unit of Zhejiang Xinhua IPA had been shut down, while the propylene unit had started stable operation.
Market outlook
An IPA analyst from SunSirs believes that in December, domestic raw material acetone prices rose and propylene prices fluctuated within a certain range, and cost support was still acceptable. However, downstream market demand was poor, and the market remained on the sidelines, with a stagnant operation and cautious actual transactions. It is expected that IPA will remain cautious in the short term, with fluctuations and consolidation within the range.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.