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SunSirs: The Propylene Market Fluctuated and Rose in August

Increase font size  Decrease font size Date:2023-09-04   Views:74

  According to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market fluctuated and rose in August, with a significant increase towards the end of the month. At the beginning of August, the market was average at 6,713 RMB/ton, with an average price of 7,000 RMB/ton as of August 31st, a monthly increase of 4.28% and a decrease of 1.66% compared to the same period last year.

  Analysis review

  In August, the propylene market in Shandong fluctuated and rose, with prices gradually showing a stronger trend. At the beginning of the month, the rebound in crude oil and PP prices led to a slight increase in the propylene market, leading to a narrowing of the price difference between PP and propylene, downstream purchasing willingness weakened, and the propylene market began to weaken. Subsequently, the PDH device maintenance of Shandong enterprises resulted in a decrease in on-site supply, boosting market information and driving up propylene prices. Due to the impact of news and demand, the propylene market experienced a fluctuating upward trend. Towards the end of the month, propylene on-site inventory was low, supply was tight, and with news boosting, prices showed a broad upward trend.

  Cost side: In August, the upstream of propylene showed varying degrees of increase, which effectively boosted the propylene market with enhanced cost support. On the demand side: Except for a few varieties, downstream derivatives of propylene had experienced varying degrees of increase, with some products experiencing an increase of over 20%. The production of downstream products was fair, and demand was steadily following up.

  Market outlook

  SunSirs’Propylene Analysts believe that the propylene market had stable supply and demand by August 31st, inventory was low, and the enthusiasm for downstream entry was high. It is expected that the propylene market will tend to be stronger in the short term.

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