According to the monitoring of the Commodity Market Analysis System of SunSirs, the market price of IPA continued to decline this week. At the beginning of the week, the average price of IPA in China was 8,500 RMB/ton, while the average price over the weekend was 7,870 RMB/ton. During the week, the price decreased by 7.41%.
Analysis review
The market price of IPA continued to decline this week. As of November 3, the market situation was light, and the overall trading sentiment was not good. The upstream acetone market saw a significant decrease in acetone manufacturers, resulting in weak cost support. Traders had low enthusiasm for buying goods, weak market price confidence, and downstream customers were more wait-and-see. They were cautious in actual orders and transactions. As of November 3, the majority of quotations for IPA in the Shandong region were around 7,550-7,600 RMB/ton; The majority of prices for IPA in the Jiangsu and Zhejiang regions were around 8,100-8,200 RMB/ton.
In terms of raw material acetone, the market price of acetone fell this week. At the beginning of the week, the average price of acetone was 7,425 RMB/ton, while on Friday, the average price was 6,937.5 RMB/ton, a decrease of 6.57%. Acetone continued to decline this week, leading to a weakening market and a slowdown in intraday trading.
In terms of propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market prices had decreased this week, with an average price of 7,100.75 RMB/ton at the beginning of the week and 6,958.25 RMB/ton at the weekend. The price had decreased by 2.01%. As of November 3, the propylene market was average, with significant cost pressure on enterprises and prices stabilizing.
Market outlook
SunSirs’IPA analysts believe that the upstream acetone market has significantly declined, the propylene market price has fallen, and both raw materials are weak, resulting in weak cost support. The overall market demand is lukewarm and tepid, and downstream and traders are cautious in purchasing, so they are more wait-and-see. It is expected that the IPA market will be sorted to be weaker in the short term.
