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SunSirs: Weak Support, IPA Market Price Fell This Week (May 18-25)

Increase font size  Decrease font size Date:2023-05-29   Views:102

  Price trend



  According to the monitoring of the Commodity Market Analysis System of SunSirs, the IPA market fell this week. Last Thursday, the average price of IPA in China was 7,140 RMB/ton, while this Thursday's average price was 6,890 RMB/ton. The price fell by 3.5% during the week.



  Analysis review



  The domestic IPA market price fell this week. As of the 25th, the market situation was light, and the focus of the domestic IPA market was downward. Upstream acetone and propylene had fallen one after another, cost support weakened. Downstream procurement enthusiasm was poor, with getting orders mainly on-demand. Most businesses maintained a wait-and-see attitude, with fewer inquiries and more wait-and-see behavior, resulting in slow shipments. As of the 25th, the majority of quotations for IPA in the Shandong region were around 6,600-6,900 RMB/ton; The majority of prices for IPA in the Jiangsu and Zhejiang regions were around 6,900-7,400 RMB/ton.



  In terms of raw material acetone, the acetone market declined this week. Last Thursday, the average price of acetone was 6,420 RMB/ton, while this Thursday's average price was 5,987.5 RMB/ton. The price was reduced by 6.74%. The factory's price reduction had a significant negative impact on the market. Although the operating rate of domestic phenolic ketone plants had declined and the inventory pressure of manufacturers was not high, market trading was sluggish, with fewer active inquiries from terminals and insufficient actual orders.



  In terms of propylene, this week's propylene market situation decreased. Last Thursday, the average price of propylene in Shandong was 6,952.6 RMB/ton, while this Thursday's average price was 6,450.75 RMB/ton. During the week, the price decreased by 7.22%. Due to the sluggish demand market, upstream inventory increased significantly. To stimulate sales, the factories continued to reduce prices and destock, but the demand increase was limited. Downstream procurement was cautious, and there was a strong wait-and-see atmosphere. It is expected that there will be no significant improvement in downstream demand in the short term, and the propylene market will maintain a weak trend.



  Market outlook



  SunSirs IPA analysts believe that the prices of raw materials acetone and propylene declined significantly, overall support was weak, downstream demand was weak, and the overall trading sentiment in the market was poor. Downstream and traders had low enthusiasm for procurement and lacked market confidence. Most of them were cautious and wait-and-see. It is expected that the IPA market will be consolidated to be weaker in the short term.


 
 
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