SunSirs: The propylene oxide Market Saw a Slight Increase on November 19th
November 21 2024 09:37:15 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 19th, the benchmark price of propylene oxide of SunSirs was 8,572.5 RMB/ton, a decrease of 1.12% compared to the beginning of this month (8,670 RMB/ton).
Price influencing factors:
Supply side: Lianyungang major factory released maintenance news, market atmosphere was tense. In late October, Satellite Chemical released the news of a shutdown at the end of October, with a production capacity of 400,000 tons per year. In addition, Shangnong Ruiheng's 400,000 tons per year propylene oxide plant maintained low load operation. At the same time, after the start-up of Shandong Jinling, the load increased slowly, and there was no inventory while limited sales. The market supply was tight, and the price of propylene oxide rose.
Raw material side: The prices of raw materials propylene and liquid chlorine remain stable at high levels. Although the manufacturer had sufficient inventory, downstream demand was weak, and the company reduced profits by selling at low prices, resulting in a decrease in actual trading volume. According to the market analysis system of SunSirs, as of November 17th, the benchmark price of propylene in SunSirs was 6,833.25 RMB/ton, an increase of 0.70% compared to the beginning of this month (6,785.75 RMB/ton).
Downstream demand side: New orders were purchases mainly on demand in the downstream market, while actual orders and transactions were sluggish.
Market outlook
A propylene oxide analyst from SunSirs believes that downstream purchasing enthusiasm was average, with a strong wait-and-see attitude and a focus on on-demand procurement. Propylene oxide companies had a positive attitude towards pushing up prices, and it is expected that the short-term propylene oxide market will mainly experience fluctuations and consolidation. More attention should be paid to market news guidance.
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