SunSirs: The Domestic IPA Market Had Increased This Week (April 15-19)

https://www.chemnet.com   Apr 23,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the market price of IPA has increased this week. The average price of IPA in China on Monday was 8,140 RMB/ton, and on Friday it was 8,270 RMB/ton. The price increased by 1.6% during the week.

Analysis review

The market situation for IPA had increased this week. As of April 19th, the market trading situation was average, with upstream acetone prices increasing and propylene prices rising, providing strong cost support. The mentality of traders had been boosted, market confidence had improved, and the focus on the market had been upward. As of April 19th, the majority of IPA market quotations in Shandong region were around 7,900-8,200 RMB/ton; the majority of IPA prices in the Jiangsu and Zhejiang regions were around 8,600-8,700 RMB/ton.

In terms of raw material acetone, the acetone market had risen this week. The average price of acetone on Monday was 7,487.5 RMB/ton, and on Friday it was 7,577.5 RMB/ton, with a price increase of 1.2%. Part of the enterprise's equipment was undergoing maintenance one after another. As of April 19th, the industry's operating rate was low, supply expectations were reduced, and terminals were restocking as needed. The overall transaction volume was still acceptable. It is expected that there will still be upward space in the acetone market next week.

In terms of propylene, the propylene market had been on the rise this week. The average domestic propylene price on Monday was 6,906.6 RMB/ton, and on Friday it was 6,932.6 RMB/ton, with a price increase of 0.38%. The overall inventory of propylene was controllable, and individual enterprise equipment maintenance had boosted market confidence. Propylene prices were rising, downstream costs were under pressure, procurement efforts were decreasing, and rigid demand was the main focus.

Market outlook

An IPA analyst from SunSirs believes that the price of raw acetone had increased, leading to an upward trend in the price of propylene, which strongly supported the good market confidence. It is expected that the IPA market will consolidate to be stronger in the short term.

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