SunSirs: The Focus of Propylene Prices Had Shifted Upwards This Week (May 6-10)
May 13 2024 15:23:41 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market saw a slight increase this week (5.6-5.10). The average price in the Shandong market at the beginning of the week was 6,774 RMB/ton, and the average price over the weekend was 6,852 RMB/ton, with a weekly increase of 1.15% and a year-on-year decrease of 0.46%.
Analysis review
According to the commodity market analysis system of SunSirs, the price center of the propylene market had slightly shifted upwards this week, and the market was supported by stronger demand. The production of propylene enterprises was stable, and the demand for downstream derivatives was stable, especially the purchasing enthusiasm of the main downstream polypropylene was good. At the same time, international oil prices had risen this week. Supported by news and demand, the price of propylene had slightly increased.
Market outlook
SunSirs’ Propylene Analyst believes that in the short term, there is not much pressure on upstream inventory, and downstream stably entry into the market. It is expected that the propylene market will experience a narrow consolidation and operation in the short term.
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