According to the Commodity Market Analysis System of SunSirs, as of July 28th, the average price of propylene oxide from propylene oxide enterprises was 9,587.50 RMB/ton, a decrease of 0.13% compared to July 1st.
Analysis review
The propylene oxide market saw a narrow decline in July. In the first half of the month, the cost support was average, with some fluctuations in the supply side devices. Factory shipments were acceptable, and downstream buyers followed suit. The quotation of propylene oxide enterprises was mainly stable, and the market was wait-and-see and consolidation. In the second half of the month, there was some support on the cost side, with a slight decrease in the utilization rate of supply side production capacity, and many factories had no pressure to support prices. The market atmosphere had rebounded, and the market had slightly increased. With the maintenance of some downstream devices, the demand side had decreased, inventory was under pressure, and the propylene oxide market was showing weaker operation. Towards the end of the month, the supply side devices were mainly stable, and the demand side was watching to follow up. The market was temporarily stable and consolidated.
Upstream propylene, according to the Commodity Market Analysis System of SunSirs, on July 27th, the reference price for propylene was 6,595.75 RMB/ton, an increase of 1.19% compared to July 1st (6,518.25 RMB/ton). Since July, the raw material propylene market had fluctuated slightly, the support for the propylene oxide market was general.
Market outlook
According to propylene oxide analysts from SunSirs, as of July 28th, cost support was still acceptable, supply side shipments were stable, and demand side was wait-and-see and followed up on demand. It is expected that the propylene oxide market may be stagnant and wait-and-see in the short term, and more attention should be paid to market news guidance.
