SunSirs: ECH Market Was Weaker (July 3-7)

https://www.chemnet.com   Jul 10,2023 SunSirs

　　According to the commodity market analysis system of SunSirs, as of July 7, the average price quoted by ECH enterprises was 7,525.00 RMB/ton, down 0.33% compared with the price on Monday.

　　Analysis review

　　The market of ECH was weaker this week. Recently, the price of raw propylene rose first and then dropped. The price of raw glycerin was stable, the cost pressure was high, and the manufacturer's intention to sell at low prices was not strong. However, the downstream demand was insufficient to follow up, and mainly consumed raw materials inventory. The enterprise's shipment was under pressure, and the focus of ECH market negotiation had declined.

　　Upstream propylene, according to the Commodity Market Analysis System of SunSirs, on July 6th, the reference price for propylene was 6,645.75 RMB/ton, an increase of 1.96% compared to July 1st (6,518.25 RMB/ton).

　　Downstream epoxy resin, according to the Commodity Market Analysis System of SunSirs, on July 6th, the reference price of epoxy resin was 12,533.33 RMB/ton, which was the same as July 1st.

　　Market outlook

　　Analysts of ECH from SunSirs believe that as of July 7, the cost support still existed, and the industry capacity utilization rate had improved, but the demand follow-up was limited, the market trading atmosphere was general, and the mentality of the industry was insufficient. 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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