SunSirs: The Propylene Oxide Market Hit Bottom and Rebounded on November 28th
November 29 2024 09:41:10 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 28th, the benchmark price of SunSirs' propylene oxide was 8,505 yuan/ton, a decrease of 1.9% compared to the beginning of this month (8,670 yuan/ton).
Analysis review
Price influencing factors:
Supply side: From November to December at the end of the year, maintenance will be concentrated in the East China region. The 400,000 tons/year HPPO unit in the Lianyungang region was shut down for maintenance on November 11th, with an estimated 45 days. The 270,000 tons/year PO/SM unit in Zhejiang Petrochemical may also be scheduled for maintenance in mid November, with only the 200,000 tons/year PO/SM unit in Shenghong operating normally. The market supply was tight, and the propylene oxide market was rising in price.
Raw material side: The price of Liquid chlorine and propylene on the raw material side fluctuated, and the cost side of propylene oxide enterprises was under high pressure. According to the market analysis system of SunSirs, as of November 28th, the benchmark price of propylene in SunSirs was 6,825.75 yuan/ton, an increase of 0.59% compared to the beginning of this month (6,785.75 yuan/ton).
Downstream demand side: Insufficient follow-up on downstream procurement, sluggish actual market transactions, and a focus on essential procurement, cautious observation.
Market outlook
SunSirs’ propylene oxide analyst believes that the market supply was tight, downstream procurement follow-up was insufficient, and the wait-and-see attitude was strong. Demand based procurement was the main focus, and it is expected that the propylene oxide market will mainly fluctuate and consolidate in the short term. More attention should be paid to market news guidance.
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