According to data monitoring by SunSirs, the market for IPA fell in a volatile manner this week. Last Friday, the average price of IPA in China was 6,890 RMB/ton, while this Friday's average price was 6,850 RMB/ton. The price was reduced by 0.58% during the week.
Analysis review
This week, the market for IPA fluctuated and fell. As of March 17, the market situation was general, and downstream buying operations were cautious, more wait-and-see, and mainly on demand. The price of acetone rose this week, with acceptable cost support. As of the 17th, the majority of quotations for IPA in the Shandong region were around 6,600-6,900 RMB/ton; Most quotations for IPA in the Jiangsu and Zhejiang regions were around 6,900-7,000 RMB/ton.
Regarding raw material acetone, the acetone market rose this week. Last Friday, the average price of acetone in Shandong was 6,080 RMB/ton, while this Friday's average price was 6,210 RMB/ton. During the week, the price increased by 2.14%. Spot supply continued to be tight, traders' offers continued to be strong and upward, and terminal demand had not significantly improved, and the procurement was mainly based on demand.
In terms of propylene, the propylene market fell this week. Last Friday, the average price of propylene in Shandong was 7,464.6 RMB/ton, while this Friday's average price was 7,300.6 RMB/ton. During the week, the price was reduced by 2.2%. As of the 17th, the price of propylene in the market was low, many downstream customers were on the sidelines, and the procurement was just in needed.
Market outlook
An IPA analyst from SunSirs believes that the price of raw acetone had increased, while the price of propylene had decreased. The support for raw materials was acceptable, while downstream demand was relatively light, the procurement was cautious, and mainly wait-and-see. It is expected that in the short term, the IPA market will mainly be stable.
