According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market rose sharply this week. The average price of the Shandong market at the beginning of the week was 7,175 RMB/ton, and the average price on the weekend was 7,338 RMB/ton, with a weekly increase of 2.26% and a year-on-year decrease of 1.38%.
Analysis review
According to the Commodity Market Analysis System of SunSirs, the propylene market in Shandong had surged sharply this week. This week's demand was good, downstream devices were resuming work, and demand was clearly pulling. Upstream goods were shipped smoothly, inventory had dropped to a low level, and propylene prices were driven up in line with the trend. During the cycle, crude oil prices had strengthened from weak to strong, with stronger news support, boosting market confidence.
Market outlook
Propylene analysts from SunSirs believe that there are plans to restart units regional in the future, and supply is expected to increase. The demand side remains stable, and it is expected that there will be little room for propylene to continue rising next week, with a narrow consolidation operation.
