SunSirs: Demand Was Weak, and ECH Market Continued to Decline

https://www.chemnet.com   Jun 20,2023 SunSirs

　　According to the commodity market analysis system of SunSirs, as of June 18, the average price of ECH quoted by ECH enterprises was 8,100.00 RMB/ton, down 0.92% from last Monday (June 12).

　　Analysis review

　　The market decline of ECH continued this week (6.12-6.18). Recently, the price of raw propylene rose slightly, the price of raw glycerin was stable, the cost had little impact on the market, the downstream demand was weak, and the sentiment towards raw material procurement was not high. Downstream just in needed followed up with small orders, the market transaction continued to be under pressure, the contradiction between supply and demand was prominent, and the focus of ECH negotiation was weaker.

　　Upstream propylene, according to the Commodity Market Analysis System of SunSirs, the domestic propylene (Shandong) market slightly increased this week (6.12-6.16), with an average price of 6,180 RMB/ton at the beginning of the week and 6,230 RMB/ton at the weekend, a weekly increase of 0.81% and a year-on-year decrease of 22.08%.

　　Downstream epoxy resin, according to the Commodity Market Analysis System of SunSirs, the reference price of epoxy resin on June 16th was 12,733.33 RMB/ton, a decrease of 9.05% compared to June 1st (14,000.00 RMB/ton).

　　Market outlook

　　According to the analysts of ECH from SunSirs, with the continuous decline of prices, the intention of the holders to sell at a lower price had weakened, but the downstream demand was light, and the contradiction between supply and demand still existed in the market. It is expected that the ECH market will operate weakly and stably in the short term, and more attention should be paid to the market news guidance.

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