SunSirs: Propylene Oxide Market Was Weak This Week (March 20-24)

https://www.chemnet.com   Mar 27,2023 SunSirs

According to monitoring data from SunSirs, as of March 24, the average price of propylene oxide of propylene oxide enterprises was 10,375.00 RMB/ton, down 3.49% compared to Monday's price.

Analysis review

The propylene oxide market fell this week. Recently, the price of raw material propylene had fallen, the price of raw material liquid chlorine had declined, and cost support had weakened. The supply side devices were mainly stable. At the beginning of the week, the inventory of factories in production was under pressure, and the price of propylene oxide was lowered. The demand side mainly focused on waiting and following up, while the purchasing sentiment was average, and the transaction was mainly based on demand.

According to monitoring data from SunSirs, the market price of propylene in Shandong Province had recently declined. On March 23, the reference price of propylene was 7,042.60 RMB/ton, a decrease of 6.38% compared to March 1 (7,522.60 RMB/ton).

Market outlook

According to propylene oxide analysts from SunSirs, as of the weekend, cost support was limited, shipments from factories in production were average, and the market trading atmosphere was light. It is expected that the propylene oxide market may become stalemate and weaker in the short term, and more attention needs to be paid to market news guidance.

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