SunSirs: The Propylene Market Fluctuated and Fell in April
May 06 2024 14:10:52 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market fluctuated and fell in April. At the beginning of April, the market average was 6M848 RMB/ton. On April 28th, the average price was 6 808 RMB/ton, a monthly decrease of 0.58%, a decrease of 4.62% compared to the same period last year.
Analysis review
The propylene market experienced a volatile trend in April, with an overall slight decline. At the beginning of the month, due to the low point of propylene prices at the end of March, downstream buyers entered the market on dips, causing prices to slightly rise and then begin to fluctuate. In the middle of the month, the price of propylene was relatively low, and there was profit potential downstream. Some units resumed operation and actively entered the market, accelerating on-site circulation, and propylene enterprises actively pushed up prices. Subsequently, the rise in propylene began to slow down, costs increased, downstream procurement efforts decreased, and demand for essential goods was the main focus. The price of propylene fluctuated and fell at the end of the month.
Cost side: In April, the upstream of propylene mainly rose, and cost support was still acceptable. Downstream derivatives rose more but fell less. The main downstream polypropylene slightly increased, but production was not high, suppressing demand for propylene.
Market outlook
SunSirs’ Propylene Analyst believes that as May Day approached, upstream demand for goods increased, while downstream stocking enthusiasm increased. Under the supply-demand gamed, it is expected that the propylene market will experience narrow fluctuations in the short term.
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