SunSirs: The Propylene Market Fluctuated and Fell This Week (May 20-24)

Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market fluctuated and fell this week (5.20-5.24). The average price in the Shandong market at the beginning of the week was 6,788 RMB/ton, while the average price over the weekend was 6,734 RMB/ton, with a weekly decrease of 0.8% and a year-on-year increase of 3.2%.

Analysis review

According to the commodity market analysis system of SunSirs, the propylene market opened high and closed low this week. At the beginning of the week, the upward trend continued from last week, with a slight increase in propylene prices. Subsequently, due to propylene reaching a relatively high level, downstream market entry enthusiasm decreased, and enterprise sales were not smooth, leading to a decrease in propylene prices. On the 22nd and 23rd, the downstream receiving capacity further weakened, and the price of propylene fell significantly, with a two-day drop of 200 RMB/ton.

Market outlook

SunSirs’ Propylene Analyst believes that in the short term, there are plans to restart some devices on the supply side, with an expected increase in supply and limited increase in demand. It is expected that the low end price of propylene will rise in the short term, while the high end price will fluctuate.

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