SunSirs: The Export Pressure of Propylene Producers is Gradually Increasing

On May 6th, the benchmark price of propylene for Business Society was 6992.60 RMB/ton, a decrease of -0.85% compared to the beginning of this month (7052.60 RMB/ton).

After the holiday, the propylene market in Shandong experienced a significant decline, with mainstream quotes dropping to 6850-6900 RMB/ton on the 5th. A decrease of 100 RMB/ton compared to the previous day. Due to the low start of downstream equipment and limited procurement volume during the holiday season, the export pressure of propylene producers has increased, resulting in the diversion of profits and goods. In addition, due to the recent weakness of crude oil and the downward trend of polypropylene market, the price of propylene has fallen significantly under the pressure of multiple bearish factors.

Prediction: The downstream wait-and-see atmosphere is strong, and under the atmosphere of buying up rather than buying down, the weak operation of the Shandong propylene market is the main trend.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.