Price trend
This week, the domestic propylene oxide market showed a slight upward trend. According to the Commodity Market Analysis System of SunSirs, as of February 20th, the benchmark price of SunSirs's propylene oxide was 8,012.5 RMB/ton, an increase of 2.4% compared to the beginning of this week (7,825 RMB/ton).
Analysis review
Price influencing factors:
Supply side: The operating rate of the propylene oxide industry this week was around 75.7%. As of February 20th, the 300,000 tons/year HPPO plant of Lihua Yiwei Yuan was temporarily suspended from sale starting from the 13th due to upstream and downstream impacts; And the propylene oxide unit of Xinyue Group was shut down; Resulting in a reduction in the supply of propylene oxide, low inventory, and a gradual increase in market prices.
Raw material side: The propylene market on the raw material side fluctuated narrowly, with limited cost support. According to the market analysis system of SunSirs, as of February 20th, the benchmark price of propylene in SunSirs was 6,835.75 RMB/ton, an increase of 0.18% compared to the beginning of this month (6,823.25 RMB/ton).
Downstream demand side: After the price of propylene oxide hit bottom and rebounded this week, the downstream demand atmosphere has slightly improved, and market trading has rebounded. As some factories gradually resume production, it is expected that downstream will provide some support to the market in the near future.
Market outlook
SunSirs’ propylene oxide analyst believes that while the supply of propylene oxide in the market is reduced, downstream demand has increased. In addition, due to the temporary suspension of sales by large enterprises, the price of propylene oxide in the market may show a slight upward trend under favorable supply and demand conditions, and more attention should be paid to market news guidance.
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