SunSirs: The Domestic IPA Market Had Been Operating to Be Stronger This Week (November 14-21)
November 22 2024 09:31:32 SunSirs (John)
Price trend
According to the monitoring of the commodity market analysis system of SunSirs, the domestic IPA market had been operating strongly this week. Last Thursday, the average price of IPA in China was 6,660 RMB/ton, and this Thursday the average price was 6,700 RMB/ton, with a price increase of 0.6%.
Analysis review
This week, the domestic IPA market had been operating to be stronger. The acetone market for raw materials had risen, and cost support was still acceptable. The ex factory prices of the main factories had been raised, and the mentality of the holders was good, which boosted the market and actively pushed up the price. Downstream inquiries were active, and actual orders were cautious. The overall trading atmosphere in the market was still acceptable. Most of the IPA market prices in Shandong were around 6,750-6,800 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 7,050 RMB/ton.
In terms of raw material acetone, the market price of acetone had increased this week. Last Thursday, the average price of acetone was 5,837.5 RMB/ton, and this Thursday's average price was 5,890 RMB/ton, with a price increase of 0.9%. At the beginning of the week, the port inventory dropped to 28,500 tons, and some terminal factories tendered for replenishment. The market trading atmosphere improved, and the mentality of traders was boosted, resulting in an upward shift in offers.
In terms of propylene, the propylene market fluctuated within the range this week. Last Thursday, the average price of propylene in China was 6,770.75 RMB/ton, and this Thursday's average price was 6,768.25 RMB/ton, with a price drop of 0.04%. As of November 21st, upstream factories were experiencing differentiated shipments, while downstream factories were purchasing at a lower discount. It is expected that the market will experience fluctuations and consolidation in the short term.
Market outlook
The IPA analyst from SunSirs believes that the IPA market was operating to be stronger this week. Acetone market prices had risen, propylene had fluctuated within the range, and cost support was still acceptable. Downstream inquiries were active, procurement was cautious, and demand was the main focus. It is expected that the IPA market will strengthen and consolidate in the short term.
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