SunSirs: Propylene oxide prices rose weakly, stabilized in the second half of the week
September 14 2024 15:10:58 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of September 13th, the benchmark price of SunSirs's propylene oxide was 8,817.5 RMB/ton, an increase of 2.44% compared to the beginning of this month (8,607.5 RMB/ton).
Analysis review
Supply side: Shandong Xinyue's load has increased to 90%; Shandong Sanyue propylene oxide plant stopped one line for maintenance. Downstream polyether new orders increase, the shipping atmosphere of enterprises was good, inventory was sufficient, and the price trend of propylene oxide market was stabilizing.
Raw material side: Recently, the price of raw material propylene has continued to decline. According to the market analysis system of SunSirs, as of September 13th, the benchmark price of propylene in SunSirs was 6,760.75 RMB/ton, a decrease of 2.98% compared to the beginning of this month (6,968.25 RMB/ton).
Downstream demand side: The downstream order volume has slightly increased, but the sustainability was weak, and the supply and demand transmission was not smooth. Many were adopting a wait-and-see attitude, and the propylene oxide market entered a consolidation stage.
Market outlook
An propylene oxide analyst from SunSirs believes that although there was some support for raw material prices, the downstream had a strong wait-and-see attitude, mainly focusing on on-demand procurement, and the transmission of supply and demand was not smooth, resulting in weak rise in propylene oxide prices. Prices tended to stabilize, and it is expected that the propylene oxide market will mainly consolidate in the short term. More attention should be paid to market news guidance.
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