Price trend
According to data from SunSirs’bulk list, the domestic propylene (Shandong) market price fluctuated and fell after a continuous rise this month. The price at the beginning of the month was 8,055 RMB/ton, and at the end of the month was the low price, 7,781 RMB/ton, with a monthly drop of 3.40%; the price on May 13 was 8,378 RMB/ton, which was the highest price of the month, and the monthly price range was 7.13%.
Analysis review
According to the monitoring data of SunSirs, the price of propylene in Shandong continued to rise in the middle and the first ten days of April, and the price fell sharply in the last ten days, and remained stable at the end of April. . During the May Day holiday, the price of propylene continued to be stable in the first two days. From the 3rd to the 7th, the price of propylene continued to rise by about 50 RMB/ton per day. The price remained stable on the 9th. On the 13th, the propylene price stabilized again after a small increase. Starting from the 17th, the price fell by 50 RMB/ton per day, and fell by about 100 RMB/ton on the 19th and 20th. From the 23rd, the propylene price rebounded by 50 RMB/ton per day. The price continued to stabilize on the 25th. From the 27th, the manufacturer's price continued to decline, with a daily drop of 50-100 RMB/ton. The market transaction price was between 7,670-8,250 RMB/tons, the mainstream price was around 7,750 RMB/ton. Propylene prices in the U.S. remained stable on May 28, and propylene prices in Asia declined significantly, which had a small negative impact on the propylene market. There was not much inventory in the propylene market, and the maintenance of some devices had not yet been completed. Propylene prices fell sharply at the end of the month.
In recent days, there have been continuous events in the international crude oil market, with prices fluctuating up and down. Crude oil prices rose slightly on May 28, which had limited impact on the propylene market.
After the upward trend of PP this month, it quickly fell back and stabilized, with a monthly decline of 1.92% and a monthly amplitude of 3.95%, which had little effect on propylene.
Acrylic acid was also trending down and then stabilized rapidly after rising this month, with a monthly decline of only 0.33% and a monthly amplitude of 6.42%, which had limited impact on propylene.
Propylene oxide showed a stepped downward trend after a small increase this month. The monthly decline reached 14.29%, and the monthly amplitude reached 16.49%, which had a significant negative impact on propylene.
The ECH market fell sharply this month and then fluctuated down slightly, with a monthly decline of 11.67%, and it had a obvious effect on propylene too.
The domestic price of n-butanol rose sharply this month and then fell and stabilized. The monthly increase was 8.21%, and the monthly amplitude was as high as 24.36%, which had little impact on the propylene market in the later period.
The trend of 2-EH this month also showed a trend of rapid decline and stability after rising, with a monthly increase of 3.29% and a monthly amplitude of 18.08%, which has little impact on the propylene market outlook.
IPA continued to decline this month and then stabilized, with a monthly drop of as much as 23.02%, which had a greater impact on propylene.
East China phenol market prices rose in the first ten days of this month, stabilized in the middle ten days, and then stabilized in the last ten days of the month. The monthly increase was 5.38%, and the monthly amplitude was 10.31%, which had limited positive impact on propylene.
The quotations of manufacturers in the East China acetone market also stabilized after a continuous decline, with a monthly decline of 30.00%, which had a greater negative impact on propylene.
The acrylonitrile market price rose slightly this month and then fell and fluctuated. The monthly decline was 2.89%, and the monthly amplitude was 5.10%, which had little impact on propylene.
Market outlook
The propylene analyst of SunSirs believes that: on the whole, the domestic inventory is still low, some devices are overhauled, companies have suspended quotations, the crude oil market has risen slightly, the downstream operating rate is average, and some devices have resumed work slightly The favorable market is mostly concentrated in mid-May and early May, and the market tends to be empty in the latter half of the month. Therefore, it is expected that propylene may continue to fall slightly.
