Price trend
According to the data of SunSirs’bulk list, as of March 12, the average price of propylene oxide companies was 19,933.33 RMB/ton, which was an increase of 3.28% compared with the beginning of the week, and an increase of 18.65% compared with February 12. Compared with the same period last year, it increased by 133.59%.
Analysis review
This week, the propylene oxide market rose, the price of raw material propylene rose, the factory inventory was not pressured, and the overall supply was tight, which supported the market. Downstream procurement remained stable, and the hold-out attitude of the holders continued to push the price of propylene oxide to rise continuously. As of the 12th, the mainstream quotation of the propylene oxide market in Shandong was around 19,300-19,800 RMB/ton.
According to the monitoring data of SunSirs, affected by the upstream and downstream effects, the price of propylene rose repeatedly in the second half of February and was at a multi-year high. The price of propylene remained stable at the end of February and early March. On the 4th, the price of propylene began to decline, and on the 8th, the price generally rebounded. The price rose by 150-250 RMB/ton in two days. After that, the price generally stabilized. On the 12th, the market transaction was 8,450-8,650 RMB/ton. Between RMB/ton, the mainstream price was about 8,450 RMB/ton.
Downstream propylene glycol, according to the monitoring data of SunSirs, as of March 11, the ex-factory price of domestic industrial grade propylene glycol referred to 16,166 RMB/ton. Compared with March 1 (reference price 15,433 RMB/ton), the average price was increased by 743 RMB/ton, or an increase of 4.75%. Downstream flexible foam polyether, the Shandong flexible foam polyether market was temporarily operating stably on March 12, and the cost side was still supported, but the new order buying momentum weakened. As of the 12th, the mainstream price of ordinary flexible foam polyether market in Shandong was around 19,600-20,000 RMB/ton.
Market outlook
The propylene oxide analyst of SunSirs believes that the current upstream propylene price is rising, the raw material is boosted, and the performance of the supply and demand side is still stable. It is expected that the propylene oxide market may operate at a high level in the short term. More specific trends still need to pay attention to market news guidance.
