Price trend
According to data from SunSirs’bulk list, the domestic propylene (Shandong) market price remained stable in the first half of this week and continued to rise in the second half of the week. The initial price of the week was 7,291 RMB/ton, and the weekend price was the weekly high, 7,391 RMB/ton, a weekly increase by 1.37%; there was a low price of this week on Tuesday, 7,285 RMB/ton, with a weekly amplitude of 1.45%.
Analysis review
According to the monitoring data of SunSirs, the price of propylene fell all the way at the end of December, and began to rise on New Year's Day. It was raised by about 100 RMB/ton on the 4th. The price on the 5th and 6th was mainly stable. Only a few companies increased slightly. On the 8th, some prices declined, and the later prices continued to stabilize. On the 14th, the price finally showed a general increase. On the 15th, the price continued to rise slightly by about 50 RMB/ton. The market transaction was between 7,350-7,550 RMB/ton, and the mainstream price reached 7,350 RMB/ton. Manufacturers' inventory was slightly tight and sales were smooth. Prices in the north dropped slightly, repairing the original spread. Affected by the new crown epidemic, logistics increased slightly, affecting the price of propylene.
Crude oil prices fell slightly on January 13, but it had little effect on propylene.
PP spot prices declined slightly this week, with a weekly decline of 1.03%, but the PP futures market was better, and the impact on propylene was average.
The acrylic acid market stabilized across the board this week, with limited impact on propylene.
This week, the propylene oxide market had stabilized across the board, with little impact on propylene.
ECH declined slightly this week, with a weekly decline of 1.35%, which had a small negative impact on propylene.
This week, the domestic price of n-butanol stabilized after rising continuously. The weekly increase was as high as 8.37%, which had a significant effect on propylene.
The 2-EH market rebounded after a decline this week, with a weekly increase of only 0.31% and a weekly amplitude of 16.79%, which had a slightly positive effect on propylene.
The isopropanol market rose sharply this week, with a weekly increase of 5.53%, which had a certain positive impact on propylene.
The price of phenol in East China had stabilized across the board this week and had no effect on propylene.
East China acetone fluctuated up this week, with a weekly increase of 3.60%, which had a slight boost to propylene.
Market outlook
The propylene analyst of SunSirs believes that: on the whole, there are not many stocks, the northern market has recovered the spread, the logistics cost has risen slightly, the crude oil price has declined slightly, the downstream polypropylene futures market is better, the operating rate has risen slightly, and trading has rebounded. There are more positive than negative on downstream products, so propylene prices are expected to continue to rise in the near future.
