SunSirs: This Week, the IPA Market rose first and then fell (December 7-14)

https://www.chemnet.com   Dec 15,2023

　　According to the monitoring of the commodity market analysis system of SunSirs, the market price of IPA rose first and then fell this week, with a slight increase overall. Last Thursday, the average price of IPA in China was 8,240 RMB/ton, while this Thursday's average price was 8,260 RMB/ton. The price increased by 0.24% during the week.

　　Analysis review

　　The market price of IPA rose first and then fell this week, with a slight increase overall. As of December 14th, the market situation was light, and the overall trading sentiment was average. The price of acetone in the upstream acetone market had slightly declined, and cost support was somewhat weak. Traders had low enthusiasm for purchasing goods, weak market confidence, and downstream customers were more cautious in actual transactions. As of December 14th, the reference price for IPA in the market was around 7,800-8,200 RMB/ton; The market reference price in the Jiangsu and Zhejiang regions was around 8,200-8,800 RMB/ton.

　　In terms of raw material acetone, the market price of acetone had dropped this week. Last Thursday, the average price of acetone was 7,032.5 RMB/ton, while this Thursday's average price was 6,970 RMB/ton, a decrease of 0.89%. Acetone fell this week, leading to a weakening of the market and a slowdown in on exchange trading.

　　In terms of propylene, according to the commodity market analysis system of SunSirs, the domestic propylene (Shandong) market price fell first and then rose this week. Last Thursday, the average price in the Shandong market at the beginning of the week was 7,018.25 RMB/ton, and this Thursday's average price was 7,010.75 RMB/ton, with a price reduction of 0.11%. As of December 14th, the propylene market was still in good condition, with no pressure on local refining inventory and prices fluctuating slightly.

　　Market outlook

　　The IPA analyst from SunSirs believes that the upstream acetone market had slightly declined, the propylene market price had slightly decreased, and both raw materials were operating weakly, resulting in slightly weak cost support. The overall market demand for IPA was lukewarm, and downstream and traders erre cautious in purchasing, so be cautious and wait and see. It is expected that the IPA market will be weaker and consolidating in the short term.

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