SunSirs: The Domestic IPA Market Was Temporarily Stable This Week (November 4-8)
November 11 2024 14:52:15 SunSirs (John)
Price trend
According to the monitoring of the commodity market analysis system of SunSirs, the domestic IPA market had been operating steadily this week. On Monday, the average price of IPA in China was 6,670 RMB/ton, and on Friday it was 6,670 RMB/ton, unchanged from Monday.
Analysis review
The domestic IPA market had been operating steadily this week. The market for acetone on the raw material side declined, with limited cost support. The trading atmosphere on the market was light, with a strong wait-and-see attitude. All holders of goods were maintaining stability in their trading ranges, while downstream buyers were in urgent need of goods and were cautious in their actual orders. As of November 8th, most of the IPA market prices in Shandong were around 6,600-6,650 RMB/ton; The majority of IPA market prices in Jiangsu and Zhejiang regions were around 6,750-6,800 RMB/ton, while prices in South China were around 7,100 RMB/ton.
In terms of raw material acetone, the market price of acetone had fallen this week. The average price of acetone on Monday was 6,071.5 RMB/ton, and on Friday it was 5,927.5 RMB/ton. Overall, the price decreased by 1.54%. As of November 8th, the domestic acetone market was slightly weak, and the focus of negotiations was somewhat weak, resulting in a sluggish market atmosphere. It is expected that the acetone market will experience slight fluctuations within the range today.
In terms of propylene, the propylene market fluctuated within the range this week. On Monday, the average domestic propylene price was 6,843.25 RMB/ton, and on Friday, the average price was 6,843.25 RMB/ton, unchanged from Monday. As of November 8th, the inventory of enterprises was low, and downstream demand was the main factor, with a strong wait-and-see attitude. It is expected that the market may experience strong fluctuations and consolidation in the short term.
Market outlook
The IPA analyst from SunSirs believes that the IPA market was temporarily stable and consolidated this week. The acetone market fluctuated slightly and fell, while propylene fluctuated within the range, with limited cost support. Downstream procurement enthusiasm was weak, with a focus on buying at low prices for essential needs. It is expected that the IPA market will continue to stabilize and operate in the short term.
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