1、 Price trend
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According to the data of the bulk list of business agencies, the domestic propylene (Shandong) market has turned round the peak this week, rising continuously. The market at the beginning of the week was 7673 yuan / ton, and the average price at the weekend was 7809 yuan / T, up 1.66%.
2、 Analysis and comment
According to the price chart of the business agency, propylene prices have been rising this week, and prices have risen back to the average price in early July. The current market mainstream quotation is 7800-7850 yuan / ton, and the low price is near 7200 yuan / ton. After crude oil prices plummeted last week, the rally accelerated this week, followed by propylene. Downstream procurement on demand, demand is acceptable.
Crude oil continued to rise after the sharp fall this week, with prices rising near the weekly price. This week, it was up 0.35 percent.
The overall change of PP price this week is not significant, the lower level enterprises start rate is not high and demand is insufficient. The purchasing follow-up was weak, and the response to high price sources was poor, with a 0.59% increase in the week.
Acrylic acid has been a remarkable performance this week. In recent months, the price rose by more than 10%, and the price increased by 3.47% in the week. However, the proportion of acrylic acid in propylene demand is limited, and the support for propylene market is limited.
This week, the price of propylene oxide continued to rise, the propylene oxide manufacturers were not pressured, the downstream polyether orders were stable and medium increment, and the market was up. The middle and lower reaches just needed to follow up steadily, the market was not pushed up, and the increase was 3.59% in the week, which limited support for the propylene market.
Overall, the performance of propylene downstream is still acceptable, and the overall market has signs of recovery.
3、 Post market forecast
The propylene analysts of the chemical branch of the business society believe that although the propylene price has rebounded, overall, the oil price is dominated by the air and oil price is closely watched. The short-term market fluctuation and decline are still the main tone.
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