According to the data monitoring of SunSirs, the market of IPA in the early of March fell first and then rose, and the overall trend was mainly upward. The average price of IPA in China was 6,860 RMB/ton on March 1 and 6,890 RMB/ton on March 10, with an increase of 0.44%.
Analysis review
In the first ten days of March, the market price of IPA fell first and then rose, and the overall trend was mainly upward. As of March 10, the market was fair. Most of the manufacturers closed the offer and did not quote. The follow-up mentality of IPA merchants was obvious. As of the 10th, most of the quotations for IPA market in Shandong were around 6,500-6,800 RMB/ton; Most prices of IPA in Jiangsu and Zhejiang were around 6,800-7,200 RMB/ton.
In terms of raw acetone, the acetone market rose in the first ten days of March. The average price of acetone was 5,870 RMB/ton on March 1 and 6,000 RMB/ton on March 10, with an increase of 2.21%. As of March 10, acetone inventory was low, the market spot was tight, and the focus of acetone market was upward.
In terms of propylene, according to the monitoring data of SunSirs, the price of propylene in Shandong Province had stopped falling and rebounded recently, pushing up in a narrow range for two consecutive days, with a range of 50 RMB/ton. It is understood that in the early stage, the price of propylene had been continuously reduced, the price had been adjusted in place, the enterprise inventory was controllable, and the downstream was bargain-hunting, which led to a small increase in the market. The market is expected to be stronger in the short term under the support of downstream rigid demand.
Market outlook
The IPA analyst of SunSirs believed that the price of raw acetone rose and the price of propylene stopped falling and rebounded. The support of raw materials was good, and the downstream demand was fair. The domestic IPA market had good confidence. It is expected that the focus of IPA market will move up in the short term.
