According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market had slightly increased this week. The average price in the Shandong market at the beginning of the week was 6,180 RMB/ton, and the average price on the weekend was 6,230 RMB/ton, with a weekly increase of 0.81% and a year-on-year decrease of 22.08%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, the propylene market in Shandong continued to rise slightly this week. Due to the price of propylene fell to a low level, the downstream actively entered the markets, and the market trading atmosphere had improved. The inventory pressure of propylene enterprises relatively decreased, and the price slightly increased. On the news side, crude oil prices were weak and volatile, dropping to a low level, and dragged down market confidence.
Recently, almost all upstream and downstream products of propylene had fallen, and the negative impact of upstream cost was significant. Downstream, only PP had slightly increased, and the main downstream support was the main driving force for the rise of propylene this week.
Market outlook
Propylene analysts from SunSirs believe that as of 16th, propylene price had fallen to a low level, and downstream buyers were looking for bargains to enter the market. With the end of the downstream procurement cycle in the future, it is expected that the propylene market will consolidate and operate in the short term.
