According to the monitoring of the commodity market analysis system of SunSirs, the market price of IPA had fallen this week. At the beginning of the week, the average price of IPA in China was 8,280 RMB/ton, while the average price over the weekend was 8,110 RMB/ton. During the week, the price decreased by 2.05%.
Analysis review
The market price of IPA had fallen this week. The overall trading sentiment in the market was poor. The upstream acetone market rose first and then fell, and cost support was still acceptable. Downstream procurement was cautious, with on-demand orders being the main focus. Many businesses maintained a wait-and-see attitude, with few inquiries and slow shipments. As of December 22, the majority of IPA market quotations in Shandong region were around 7,800-8,100 RMB/ton; The majority of IPA prices in the Jiangsu and Zhejiang regions were around 8,300-8,500 RMB/ton.
In terms of raw material acetone, the market price of acetone rose first and then fell this week. At the beginning of the week, the average price of acetone was 6,800 RMB/ton, and on Friday it was 6,820 RMB/ton. The price had increased by 0.29%. This week, the acetone market rose first and then fell. The overall purchasing power of downstream was limited, and the market maintained a strong operation. It is expected that the domestic acetone market may exhibit a mixed trend of ups and downs in the short term.
In terms of propylene, according to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market price had increased this week. The average price in Shandong at the beginning of the week was 6,895.75 RMB/ton, and the average price over the weekend was 6,928.25 RMB/ton, with a price increase of 0.47%. The propylene market was still trading well this week. The enthusiasm for downstream procurement had increased, and the overall market situation had improved. It is expected that the market situation will be strong and volatile in the short term.
Market outlook
SunSirs’IPA analysts believe that upstream acetone prices first rose and then fell, while propylene market prices slightly increased, and overall cost support was still acceptable. However, the downstream market demand for IPA was weak, and procurement was not active, resulting in cautious market transactions. It is expected that the IPA market will be consolidating to be weaker in the short term.
