SunSirs: The Propylene Oxide Market Fluctuated and Consolidated This Month
September 30 2024 14:52:18 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of September 29th, the benchmark price of SunSirs' propylene oxide was 8,520 RMB/ton, a decrease of 1.02% compared to the beginning of this month (8,607.5 RMB/ton).
Analysis review
Price influencing factors:
Supply side: Shandong Xinyue's load had increased to 90%; Shandong Sanyue propylene oxide plant stopped one line for maintenance. Downstream polyether new orders increased, the shipping atmosphere of enterprises was good, inventory was sufficient, and the price trend of propylene oxide market was fluctuating and consolidating.
Raw material side: The market price of raw material propylene had decreased. Although the manufacturer had sufficient inventory, downstream demand was weak, and the company reduces profits by selling at low prices, resulting in a decrease in actual trading volume. According to the market analysis system of SunSirs, as of September 27th, the benchmark price of propylene in SunSirs was 6,585.75 RMB/ton, a decrease of 5.49% compared to the beginning of this month (6,968.25 RMB/ton).
Downstream demand side: The downstream order volume had slightly increased, but the sustainability was weak, and the supply and demand transmission was not smooth. Many adopt a wait-and-see attitude, and the propylene oxide market was experiencing a situation of mixed ups and downs.
Market outlook
A 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 mixed ups and downs of propylene oxide. It is expected that the short-term propylene oxide market will be mainly volatile, and more attention should be paid to market information guidance.
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