Price trend
The propylene oxide market remained stable on March 25. According to data from SunSirs’bulk list, as of March 25, the average price of propylene oxide quoted was 20,100 RMB/ton, which was flat compared with the previous trading day, flat compared with the price at the beginning of the week, and increased by 6.73%compared with the price at the beginning of the month, and an increase of 142.17% compared with the same period last year.
Analysis review
At present, the low inventory of propylene oxide in the factory supports suppliers to keep prices, but downstream terminals are mostly weak and wait-and-see. The game between supply and demand continues, and there is no obvious fluctuation in the focus of market negotiations. As of the 25th, the mainstream price of propylene oxide market in Shandong was around 19,450-20,000 RMB/ton.
Upstream propylene, as of March 24, the market price of propylene in Shandong was still falling. According to the monitoring data of SunSirs, due to the influence of upstream and downstream, the price of propylene rose repeatedly in the second half of February, the price was at a multi-year high. and remained stable at the end of the month. At the end of February and beginning of March, the price was generally stable. On the 4th, the price began to decline. On the 8th, the price generally rebounded and the price rose by 150-250 RMB/ton in two days. After that, the price generally stabilized. On the 12th, the price rose again by about 50 RMB/ton, and on the 15th, the price continued to rise by 50 RMB/ton. The price stabilized from the 16th, and the price entered the downward channel again on the 18th, with a daily decline of 100~ 150 RMB/ton. On the 25th, it went down 50~150 RMB/ton, and the market turnover fell to between 7,800~8,700 RMB/ton, and the mainstream price was 7,800~7,850 RMB/ton.
Downstream propylene glycol, according to the monitoring data of SunSirs, as of March 24, the ex-factory price of domestic industrial grade propylene glycol was 16,000 RMB/ton, which was 1.44% lower than that of last Thursday (March 18); downstream soft foam polyether , On March 25, the soft foam polyether market in Shandong continued its downward trend. The mainstream price of ordinary soft foam polyether in Shandong was around 18,500-19,000 RMB/ton.
Market outlook
The propylene oxide analyst of the Business Society believes that the propylene oxide market is still dominated by supply and demand in the near future. The supply and demand are balanced. However, most of the middle and lower reaches hold a wait attitude. In addition to the impact of the news of new production capacity, it is expected that the market price of propylene oxide may loosen in the short term, and the specific trend still needs to pay attention to the guidance of market news.
